AUDUSD failed to capitalize on Wednesday's...>

AUSSIE: AUDUSD failed to capitalize on Wednesday's key bullish reversal, and

couldn't challenge 0.7800 & the 200-DMA at 0.7805.

- Trade war fears & the risk off tone pressured the pair, as it moved back below

0.7700 in NY hours, although the Bollinger band base at 0.7679 lent support,

with the broader USD weakness seen thus far on Friday allowing the pair to move

back above the figure.

- Dalian Iron Ore futures have fallen sharply in early dealing, while copper

futures are also under pressure, which could crimp demand for the AUD.

- AUDNZD sits pretty much unch. at 1.0670, with the pair looking somewhat heavy

from a technical perspective as it failed to close above the 21-DMA. Bears

currently focus on 1.0581-1.0631 where the bear channel base is noted. Bulls now

need a close above the 55-WMA (1.0830) to gain breathing room.

- AUDJPY printed early session lows of 80.50 on the broad-based JPY demand,

before rebounding to current levels of 80.80. Layers of resistance accumulating

add weight to the bearish case with bulls continuing to look for a close above

82.70 to hint at a move back to 84.51-89 with above needed 83.49 to confirm.