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AUD/USD last deals at $0.6977, virtually.....>

AUSSIE: AUD/USD last deals at $0.6977, virtually unchanged on the day.
Australian AiG construction PMI moved further into contractionary territory and
printed at 40.4 vs. the prior 42.6.
- Yesterday's ECB MonPol decision somewhat disappointed dovish hopes, putting a
bid into EUR, which applied pressure to DXY. Fresh USD weakness provided support
to AUD/USD allowing it to top out just shy of $0.6995, which represents the
38.2% fibo retracement of the move from $0.7206 to $0.6865. The pair then eased
a tad into the close and finished just 7 pips higher.
- Bulls look for a break above the aforementioned $0.6995 level and the $0.7000
mark before challenging the 50-DMA, which comes in at $0.7021. The initial layer
of support is provided by $0.6964/63, where the rate bottomed on
Wednesday/Thursday respectively. Below here opens the 21-DMA at $0.6932.
- Following a review, the RBA has decided to adjust its committed liquidity
facility. For the details see the latest RBA bullet.

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