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AUSSIE
AUSSIE: AUD/USD was subjected to further downside pressure on Wednesday,
following the rate's failure above $0.7200 as a combination of soft domestic
business approvals data & broader USD strength weighed on the cross.
- The rate last deals at $0.7099 as bears continue to focus on the YTD low
($0.7085), while bulls need to reclaim $0.7200 and close above the 50-DMA
($0.7274) to improve the short-term outlook.
- AU trade data headlines the local docket today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com