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EURJPY TECHS

Vulnerable Despite Recent Bounce

USDJPY TECHS

Probes Key Short-Term Support

US TSY FLOWS

Selling Into Late Session Bounce

US OUTLOOK/OPINION

Citi See Softer Payrolls But Quick Drop In U/E Rate

US TSYS

Tactical Plays For Potential Accelerated Taper

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AUD/USD probes the water under Thursday's low, as defensive flows materialise in early Asia-Pac trade. The detection of a new Covid-19 variant of concern in South Africa has sparked concerns about potential spread & immunisation evasion, likely undermining broader risk appetite.

  • The rate last sits at $0.7181, down 9 pips on the day. Bears set their sights on Sep 29 low of $0.7170 and a clean break below that level would open up Aug 20 low of $0.7106. On the flip side, a jump above Nov 18 high of $0.7293 would bring Nov 15 high of $0.7371 into play.
  • Australia's retail sales will be published later today. Next week, focus turns to further GDP partials as well as the final growth figures, which will hit the wires on Wednesday. In addition, RBA Dep Gov Debelle will speak on a couple of occasions in the early part of next week.