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AUSSIE: Extended its post FOMC rally through its initial react high of
$0.7273(Jan30 high) to an eventual high of $0.7295 pre month-end 1600GMT fix.
Bank models had suggested that USD sales would be seen at the fix, which helped
to influence the move higher, but rate quickly lost momentum post fix as rate
dropped back to $0.7260. Suggested $11.7bn SOMA operations had earlier drawn
suggestions that fix USD sales could be countered, which along with ECB Weidmann
comments concerning German growth and ECB rate path pressed EUR/USD sharply
lower and took AUD/USD with it. Market focus into Friday will initially be on
the Sino-US trade talks as well as the China Caixin Mfg PMI. Main event of the
day will be the US NFP/Earnings report. Below $0.7260 exposes $0.7245/40 ahead
of $0.7200. Resistance $0.7295-0.7300.