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AUDUSD has stuck to a tight range thus far...>

AUSSIE
AUSSIE: AUDUSD has stuck to a tight range thus far & last deals at 0.7525, 15
pips or so softer on the day.
- News flow has been light thus far, with Fedspeak forming the focal point for
traders on Monday. Australian retail sales data will hit on Tuesday, which forms
the major risk domestic event this week.
- Bears have failed to capitalise on fresh YtD lows with correcting oversold
studies providing the impetus for a correction. Bulls look for a close above the
21-DMA (0.7642) this week to shift initial focus to 0.7715-0.7842 where 55, 100
& 200-DMAs are found. While the 21-DMA caps bears look for a close below hourly
support from May 04 (0.7524) to add to confidence.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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