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Australia's ties with the Chinese economy....>

AUSSIE
AUSSIE: Australia's ties with the Chinese economy made for a relatively volatile
session for AUDUSD on Wednesday, with the pair last trading at 0.7710 after
topping out around 0.7730 in early Asia-Pacific dealing.
- AUDUSD's recent hesitation ahead of YtD lows has resulted in the pair
correcting higher with immediate focus now on the DMAs between 0.7739-0.7840.
Bulls continue to look for a close above the 55-DMA (0.7840) to shift initial
focus to 0.7916. Momentum has corrected to more neutral levels but the Slow
Stochastic remains very oversold. Bears now need a close below the 100-WMA
(0.7630) to reconfirm focus on 0.7500-80.
- The domestic trade balance release is due in around 15 minutes.
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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