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AUD/USD trades flat at $0.6856 ahead of......>

AUSSIE
AUSSIE: AUD/USD trades flat at $0.6856 ahead of the publication of the local
retail sales figures, which conclude Australian data releases for this week.
Earlier today we had AiG services PMI, which slipped into contraction.
- The rate shed a handful of pips on Thursday, but respected the prior day's
range. AUD was unfazed as Australia reported a wider than forecast trade surplus
(accompanied by a downward revision to the previous reading), while China's
inflation data missed expectations too. The European morning brought a modest
sell-off in AUD/USD and the rate consolidated shy of neutral levels through the
rest of the day.
- Bears look for a dip through $0.6849, the low of Jan 8, followed by the Dec 17
low of $0.6838. A penetration of these levels would open up a deeper sell-off
towards the trendline support at $0.6813. Bulls look for a bounce above the Dec
13/Jan 7 highs of $0.6939/43 to signal the revival of topside momentum.
- The Australian docket for next week is light, features housing finance data
due Thursday.

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