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AUD/USD, last seen -5 pips at $0.6318,.......>

AUSSIE
AUSSIE: AUD/USD, last seen -5 pips at $0.6318, consolidates Wednesday's gains.
AUD finished Weds as the best G10 performer, after AUD/USD jumped on no news
amid an apparent short squeeze. The move occurred some time after the release of
a strong flash retail sales data out of Oz, but worth remembering the reading
was boosted by pre-lockdown buying frenzy. The rate showed at $0.6351, which
capped gains later in the day, as recovery in crude prices and a positive
showing from European & U.S. equity benchmarks kept the rate buoyant.
- Wednesday's gains put Apr 20 high of $0.6397 in focus. A break here is needed
to expose the key near-term resistance at $0.6445, the high of Apr 14. Bears
take note of the fact that AUD/USD still looks vulnerable in terms of the
underlying trend. They look for a drop below Apr 21 trough at $0.6254, followed
by the key Mar 31 low of $0.6214.
- Flash CBA PMI Surveys & prelim. trade balance headline the local docket today.

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