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(K3) Trend Direction Remains Down


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***Reaction to better-than-expected local....>

AUSSIE: ***Reaction to better-than-expected local data has been somewhat muted,
Aussie holding a narrow $0.7563 to $0.7573 range post-data. Q3 Capex came in at
1.0% q/q against MNI's median of 0.8% q/q and estimate 4 of 2017-18 spending at
A$108.9bn against MNI median of A$106bn. October's Building approvals were
+0.9%, much stronger than MNI's median of -2.0%. Hourly resistance remains at
$0.7600, while initial support is located at $0.7552, a break to expose
key-support at $0.7532/31, the level marks Nov 21 low and 61.8% fib retracement
on $0.7160-$0.8125 move. Aussie is currently changing hands at $0.7567.

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