On Thursday Westpac noted that "last week....>

AUSSIE: On Thursday Westpac noted that "last week we pointed to several stars

aligning to support AUD/USD, including the limited room for more to be priced

into the short end of the US yield curve and a steady up trend in Australia's

export commodity price basket. Both of these should limit downside on AUD/USD in

the week ahead, though the pop higher in US long yields is worth monitoring (the

AU-US 10yr spread is -35bp, actually a little tighter on the week). Commodities

remain supportive. US-China trade news has been a lot less helpful, but perhaps

it is finally all priced in. Local political risk remains ahead of the 20 Oct

by-election but overall, AUD/USD should test the 50-DMA around 0.7305. Not

enough stars seem aligned to try the 100-DMA near 0.74 however."