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AUD/USD yet again challenged its.............>

AUSSIE
AUSSIE: AUD/USD yet again challenged its multi-year lows on Tuesday, but failed
to crash through there and recovered into the WMR fix amid a bout of USD
selling. The greenback took a hit from worse than expected U.S. consumer
confidence print. That said, the Aussie remained one of the worst G10 performers
as coronavirus worry dented the currency through the European & U.S. sessions.
As a result, AUD/USD charted an inside Doji candlestick, sign of mkt indecision.
- Australian Treasurer Frydenberg told Sky News that the impact of Covid-19 on
domestic economy will be larger than that of the bushfires (PM Morrison earlier
said so elsewhere), but declined to estimate this impact.
- The rate trades flat at $0.6601, just above its 11-year lows touched over the
last 3 days. This leaves bears focused on those levels, located at $0.6586/85.
The lower 3.0% Bollinger band comes in at $0.6542, providing the next bearish
target. Conversely, bulls hope that the recent lows will remain resilient as
they keep an eye on the former breakout level at $0.6660, the Feb 10 low.
- Construction work done gets Australian Q4 GDP partials underway today. Capex
hits on Thursday, while Jan private sector credit data comes out on Friday.

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