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AUD/USD rose for the sixth straight day on...>

AUSSIE
AUSSIE: AUD/USD rose for the sixth straight day on Wednesday, nearing its
100-DMA ($0.6567). Firmer risk appetite & above-forecast (though already
outdated) local CPI data pushed the rate higher early on and, barring a shallow
pullback in the European morning, topside momentum remained. Broader risk
appetite was supported by optimistic news surrounding Gilead's remdesivir.
- AUD/USD trades flat at $0.6556 at typing. A break above the aforementioned
100-DMA would expose Mar 9 high/200-DMA at $0.6685/87. Initial support is at
$0.6434, the low of Apr 28. A break here would shift the focus to Apr 14 high of
$0.6445, a former resistance level.
- Australian terms of trade, private sector credit are due later today, while
PPI and M'fing PMIs from CBA (final) & AiG cross the wires tomorrow. Worth
watching today's PMI data out of China as well.

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