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*** The AUD largely ignored the latest.......>

AUSSIE
AUSSIE: *** The AUD largely ignored the latest economic releases as Q4 company
op. profit & inventories, alongside Jan building approvals were shrugged off by
traders.
- AUDUSD last trades around 0.7670, while the AUNZD cross sits at 1.0735 & the
AUDJPY trades at 82.00.
- AUDUSD bulls look for a close above $0.7819 to confirm breaks of 100 &
200-DMAs to ease bearish pressure and above $0.7910 to target $0.7989. Bears now
look for a close below $0.7694 to add weight to their case.
- AUDNZD topside failure ahead of the 55-WMA and key DMAs (1.0831-1.0879)
resulted in an aggressive sell-off and immediate focus back on 2018 lows at
1.0650. Bulls now need a close above NZ$1.0747 to gain breathing room and above
the 55-DMA to hint at a move targeting NZ$1.1072-1.1139.
- AUDJPY bears remain focused on the 2017 low of 81.47, while AUDJPY bulls need
a close above 83.26. O/S daily studies remain the key concern for bears.
- Tomorrow's RBA decision is being viewed as a non-event, with more focus on a
speech from RBA Gov. Lowe on Wednesday & Australian GDP data on Thursday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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