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AUD/USD last trades at $0.7018, 3 pips.......>

AUSSIE
AUSSIE: AUD/USD last trades at $0.7018, 3 pips higher on the day.
- The rate edged higher in yesterday's Asia-Pac session, supported by reports
re: targeted RRR cuts in China. However, the pair faded in the European morning,
testing the water below $0.7000, as the greenback grew firmer. Subsequent
recovery allowed AUD/USD to return above the figure and finish the day
unchanged.
- As a reminder, Australia observed the ANZAC Day holiday yesterday, which might
have limited liquidity.
- The initial layer of resistance is provided by the lower 1.0% 10-DMA envelope,
which comes in at $0.7040. A breach of that level would allow bulls to look for
recouping Wednesday's slump inspired by a soft Australian CPI print. On the
downside, a fall through yesterday's low of $0.6988 would draw bearish attention
to the Jan 2 low of $0.6982.
- Australian Q1 PPI & terms of trade data is due later today.

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