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AUD/USD trades at ~$0.7120 in the late.......>

AUSSIE
AUSSIE: AUD/USD trades at ~$0.7120 in the late stage of the Asia-Pacific
session, down ~10 pips on the day.
- AUD/NZD traded ~65 pips lower at one point, in the wake of stronger than exp.
NZ CPI, briefly breaching the 200-DMA (NZ$1.0833), before NZD strength faded as
most pointed towards transitory drivers of the print and the RBNZ's willingness
to look through such a read. Still, the move lower in AUD/NZD limited AUD/USD.
- The AUD saw a muted reaction to the release of the minutes from the RBA's most
recent MonPol decision, with the Bank's medium term MonPol views remaining
unchanged, and little fresh information apparent in the details of the meeting.
- On the technical front, AUD/USD has recovered after breaking back above
$0.7100, but bulls still need to see it reaching $0.7200 to shift focus to the
channel top at $0.7223. Bears look for the rate to fall below $0.7044 before
targeting the psychological $0.7000 level.
- Later in the week attention will move to the domestic labour market report
(Thursday) & an address from RBA's Debelle (Wednesday).

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