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AUD/USD last trades at $0.6911, almost.......>

AUSSIE: AUD/USD last trades at $0.6911, almost unchanged on the day. The minutes
from the RBA's latest MonPol meeting and a speech from RBA Gov Lowe, both due
today, will be closely scrutinised for any traces of an easing bias.
- The Aussie had a strong start to the week, with AUD/USD finishing 40 pips
higher Monday. The initial boost to the pair was provided by the preliminary
results of Australian federal elections, which saw a surprise win for the
incumbent Liberal/National coalition. Despite ebbing off of highs early into the
Asia-Pac session, the rate regained poise thereafter, aided by improving risk
sentiment, stronger oil prices, and projections suggesting that the ruling
coalition may secure parliamentary majority. AUD/USD pared some of its earlier
gains into the close, but remained elevated.
- On the technical front, a dip through $0.6900 would expose the $0.6878-71
zone, which hosts the lower 1.0% 10-DMA envelope, the 76.4% fibo retracement of
the year's range & the lower Bollinger band (2%). Below here would open up the
lower Bollinger band (3%)/lower 2.0% 10-DMA envelope at $0.6813/09. Bulls look
to the 200-HMA at $0.6941, ahead of the 21-DMA at $0.6996.

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