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AUD/USD remained in negative territory on....>

AUSSIE
AUSSIE: AUD/USD remained in negative territory on Thursday, failing to recapture
the CapEx inspired losses, with broader USD strength applying additional
pressure in late dealing. AUD/USD last trades at $0.7260.
- The pair's failure to hold above $0.7300 has shifted the technical outlook
bearish once again as AU bulls struggle to mount a sustainable rally. The focus
now returns to the YTD low ($0.7203), which needs to hold to prevent a potential
downside acceleration. A close above (A$0.7374) is needed to alter the picture
significantly, with Thursday's intraday high (0.7315) and the 21-DMA providing
the initial resistance points of note.
- The RBA MonPol decision provides the highlight of the AU docket over the next
week, with GDP input data in the form of inventories, current A/c & company
profits all due of the final national account print on Wednesday.
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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