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AUD/USD trades virtually unchanged at........>

AUSSIE
AUSSIE: AUD/USD trades virtually unchanged at $0.7041. The rate stuck to a
tight, 12 pip range overnight, with no economic data released out of Australia
and little new in the way of headlines.
- Bearish focus remains on $0.7018, which hosts the 100-DMA and 50% retracement
of the YtD range. A fall through the figure would open up the 21-DMA & Jul 2
high, which coincide at the psychological $0.7000 barrier. On the topside, focus
falls on the 38.2% retracement of the YtD range at $0.7083. The fact that this
level capped gains last Friday adds to its importance.
- RBA Kent is set to speak on Tuesday, while the central bank's chief Lowe will
make an address on Thursday. Elsewhere, only lower tier data is expected today,
with flash CBA PMI readings and skilled vacancies data due on Wednesday.

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