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AUDUSD last trades at 0.7570, 20 pips or.....>

AUSSIE
AUSSIE: AUDUSD last trades at 0.7570, 20 pips or so higher on the day, aided by
an uptick in risk sentiment on the back of the North Korea/Italian developments
from over the weekend.
- RBA's Harper noted that "falling house prices wouldn't scuttle a rate rise,"
as he re-iterated that the RBA has a "steady as she goes" approach to MonPol
pointing to slow wage growth.
- Looking ahead, traders will pay particular attention to Thursday's Australian
Q1 CapEx release.
- Bears look for a close below 0.7520 to confirm a break of the 21-DMA and below
the YtD low of 0.7410 to reconfirm the bearish bias. Initial resistance comes in
at the May 25 high (0.7590), while layers of resistance remain sandwiched
between 0.7620-61 with bulls needing a close above the falling trend line
(0.7661) to shift focus higher.
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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