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Risk was given a boost overnight initially....>

FOREX
FOREX: Risk was given a boost overnight initially on state bank intervention in
USDCNY, then by reports that Vice Premier Liu is to visit the US to prepare
talks between US Trump & China Xi. NZD & AUD were the main beneficiaries and
remain top of the G10 pile at the European crossover with gains of 0.62%/0.56%
respectively. NZDUSD extends to $0.6754 with bulls targeting a break back above
$0.68 and the 38.2% fibo of 2018 range/Nov 7 high at $0.6812/14. EURNZD further
extends declines to NZ$1.6656, support is seen at NZ$1.6522 from the ytd Jan 11
low. AUDUSD comfortably holds above the $0.72 level with next topside focus on
the Nov12 high & 100-dma at $0.7246/59. While AUDJPY recovers the 200-dma
(Y82.04) to Y82.29. Next resistance is seen at Y82.58 from the 38.2% retracement
of the 2018 range.  

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