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AUDUSD staged an impressive recovery with....>

AUSSIE
AUSSIE: AUDUSD staged an impressive recovery with moves largely driven by AUDJPY
following the USDCNY gyrations overnight. The initial risk-off theme was
reversed following reported Japanese state bank intervention in the local
currency, AUDUSD bounced off Asia lows of $0.7318 to $0.7384 and holds firm into
Europe. A break and hold above $0.7400 is required for the next leg higher and
challenge the double top resistance area at $0.7440/45. Meanwhile, AUDJPY
comfortably holds above the 100-dma (Y82.53) and lifts to recovery highs of
Y82.93. The monthly high at Y83.92 provides the next hurdle. 

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