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AUD/USD last trades 10 pips or so higher.....>

AUSSIE
AUSSIE: AUD/USD last trades 10 pips or so higher at $0.7123. This comes after
AUD/USD drew support from cautious comments from Fed Chair Powell on Friday,
which outweighed a strong U.S. labour market report, after the PBoC cut its RRR
by 100bp (earlier telegraphed by Chinese Premier Li), which provided a short
term, modest boost to AUD.
- Bulls look for a clean break above the Dec 20 high at $0.7149 to open up the
55-DMA at $0.7175. Meanwhile, bears look to Friday's intraday low at $0.6994 as
initial support.
- The domestic docket picks back up this week with AU trade balance and retail
sales headlining, although global developments will likely continue to dominate
AUD flows.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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