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AUD/USD was well bid yesterday, amid a.......>

AUSSIE
AUSSIE: AUD/USD was well bid yesterday, amid a broader improvement in risk
appetite as participants welcomed a relatively smooth, gradual re-opening of
global economies. The rate rallied past May 20 high of $0.6616 but struggled to
cleanly break above its 200-DMA and finished the day just below there. The
200-DMA was tested for the first time since January.
- Dow Jones cited the chairman of a joint Aussie-NZ working group drafting plans
for the creation of a trans-Tasman "travel bubble" as noting that the group
wants to give its recommendations to the two gov'ts by the second week of June.
- AUD/USD sits at $0.6648, a touch lower on the day. A deeper retreat, past May
20 high of $0.6616, would open up the key support from May 22 low of $0.6506.
Bulls need a firm breach of the aforementioned 200-DMA at $0.6659 to gain some
fresh impetus. Above there opens the upper 2.0% 10-DMA envelope at $0.6679.
- Looking ahead, focus turns to completed construction work & industrial profits
(Wednesday), as well as private capex & flash trade data (Thursday). RBA Gov
Lowe appears in parliament tomorrow.

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