Renewed optimism that US & China are..........>

FOREX: Renewed optimism that US & China are getting closer to a trade deal,

underpinned risk overnight. The Wall Street Journal reported they could reach a

formal trade deal at a summit around March 27 and the deal if reached, could

lift most or all the US tariffs. The antipodeans witnessed modest gains against

the dollar, but are off their best levels of the session at the European

crossover.

- AUDUSD squeezed to $0.7120, encountered resistance from the 21 & 55-dma's,

before easing back under $0.71.

- AUDJPY briefly traded above Y79.50, before drifting toward Y79.30/35.

- NZDUSD consolidates above the $0.68 level, held to a narrow $0.6801-33 range.

A downside break brings the 100-dma & Feb 22 low back into view at $0.6769/58,

ahead of the 200-dma at $0.6749. Bulls need to clear the $0.6850/55 area which

has registered a series of previous highs, before challenging the Feb 25 high at

$0.6902.