The AUD has run out of steam recently,.......>

AUSSIE: The AUD has run out of steam recently, after the AUDUSD managed a brief

foray above 0.7900 on Wednesday. AUDUSD last trades back at 0.7770 after softer

copper prices and trade war fears pressured the Aussie on Thursday, with a close

below the 21-DMA (0.7834) adding pressure. Bears need a close below 0.7694 to

confirm focus on tests of 0.7500 Dec lows. Daily studies are well placed for

losses. Bulls now need a close above the 21-DMA to gain breathing room.

- For AUDJPY the lack of topside follow through this week has taken its toll

with a sharp sell-off and close below the 21-DMA (83.47) that sees initial

pressure on the 82.50 support and overall focus back on tests of the 2018 low

and double daily bottom at 81.47. Daily studies are well placed for a fresh leg

lower. Bulls now need a close above the 21-DMA (83.47) to gain breathing room.

- Sideways trading in AUDNZD continues as Bollinger bands narrow. Bears need a

close below 1.0700 to return focus to 1.0588-1.0650 where 2018 lows and the bear

channel base are situated. Bulls still need a close above 1.0894 to confirm

breaks of 55 & 200-DMAs.