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AUD/USD last deals at $0.6996, 5 pips or.....>

AUSSIE
AUSSIE: AUD/USD last deals at $0.6996, 5 pips or so lower on the day. Australian
markets are shut for a national holiday today.
- On Friday, the rate edged lower before skyrocketing as U.S. NFP data
significantly missed expectations. Subsequent greenback sales lifted the pair to
its intraday high of $0.7022, just ahead of the WMR fix, but some of the gains
were pared into the close.
- Bulls look to the 50-DMA & upper 1.0% 10-DMA envelope located at $0.7022.
Above here opens the upper Bollinger band (3%) at $0.7043. Bears eye the 100-HMA
at $0.6984 and a breach of the level would expose $0.6963/64, which limited
losses last Wednesday, Thursday & Friday.
- Points of note in the Australian economic docket this week are NAB business
confidence (Tuesday), Westpac consumer confidence (Wednesday) and the report on
domestic labour market (Thursday), which will be closely scrutinised by the RBA.
The central bank's Asst Govs Kent & Ellis both speak on Wednesday.
- Today's release of China's trade balance data will also provide interest.

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