The AUD came under pressure on Friday,.......>

AUSSIE: The AUD came under pressure on Friday, with the yuan registering fresh

lows against the USD.

- A move lower in copper also weighed on the Aussie after workers at the largest

copper mine in the world agreed to strike.

- AUD/USD last deals at ~0.7360, after the pair's fall extended below 0.7370 key

support ($0.7370) to confirm the bearish break out from the recent consolidation

range. Daily momentum indicators are also starting to turn lower again,

consistent with a resumption of the major downtrend. The way has now been opened

for a decline to test the major trendline support at 0.7324. Intraday rebounds

have remained limited by the 50% retracement level of the previous decline,

consistent with an impulsive structure developing to the downside. A move above

0.7411 is now needed to stabilise the technical picture.

- AU retail sales data is due later today, with traders looking to next week's

RBA MonPol decision & the release of the latest SOMP.