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AUD/USD last trades flattish at $0.6885......>

AUSSIE
AUSSIE: AUD/USD last trades flattish at $0.6885 after closing 21 pips lower
yesterday, as the Aussie failed to lick its post-RBA wounds through the day,
even as broader risk appetite revived.
- The pair posted a ~20 pip leg higher in early Asia-Pac trade yesterday,
peaking just shy of $0.6930, in reaction to APRA's proposal to loosen mortgage
lending standards. Nonetheless, AUD/USD tumbled later on as the latest RBA
MonPol meeting minutes & comments from RBA Gov Lowe indicated that the RBA has
adopted an easing bias.
- Bears look for a downside breach of $0.6866/65, where the rate bottomed on May
21 & 17, the worst levels since the Jan 3 flash crash. This would allow them to
target the $0.6840-25 zone, where the rate registered a series of lows in Jan
2016. Bulls need to recover $0.6900 before attempting a move at the downtrend
resistance, which kicks in at $0.6929 today.
- Points of note in Australia today include construction data and skilled
vacancies, with CBA PMIs due to follow tomorrow.

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