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Broader USD weakness has allowed AUDUSD to...>

AUSSIE
AUSSIE: Broader USD weakness has allowed AUDUSD to move away from the early
session low of 0.7510, to deal at 0.7520 ahead of today's Australian retail
sales data release, as well as the release of the Australian Federal Budget.
- From a technical perspective, bears have so far failed to capitalise on fresh
2018 lows with correcting oversold studies providing the impetus for a
correction last week. Bulls look for a close above 0.7640 this week to shift
initial focus higher to 0.7709-0.7842 where the 55, 100 & 200-DMAs are found.
While the 21-DMA (0.7632) caps bears retain focus on the May 2017 monthly lows
(0.7326), looking for a close below the YtD low (0.7470) 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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