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AUDUSD weakness has spilled over into........>

AUSSIE
AUSSIE: AUDUSD weakness has spilled over into Wednesday's Asia-Pacific session,
with broader USD demand apparent. The cross last trades 25 pips lower ~0.7430,
after registering a low of 0.7425 as offshore funds reportedly chewed through
exporter bids from 0.7440.
- Fresh 2018 & 5-month lows add weight to the pairs bearish case with immediate
focus currently on June 2017 lows (0.7368), although correcting oversold daily
studies remain the key concern for bears. Layers of resistance are building,
adding  weight to the bearish case. Bulls now need a close above yesterday's
hourly support levels (0.7490).
- The Australian economic docket is limited for the reminder of the week, with
focus on next week's wage price index.
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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