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The AUD/USD was pressured overnight, with....>

AUSSIE: The AUD/USD was pressured overnight, with the Aussie underperforming the
majors, as markets await U.S. Pres. Trump's next move re: China tariffs after
the U.S. public consultation period on the matter came to an end. AUD/USD edged
away from lows when headlines on the matter failed to materialise at the end of
the consultation period. The rate last deals at $0.7165.
- Continued failed breaks above $0.7200 keep the pair's downtrend intact. Focus
remains on the YTD/May 24 2016 low ($0.7145), a break here would open up the
1.618% swing target ($0.7092), ahead of the key $0.7000 psychological level.
Bulls need a break back above $0.7305/10 to alter the short-term outlook and
target the August highs ($0.7453).
- The AU labour market report & NAB biz confidence survey headline next week's
- Nearby notable FX option expiries at today's 10AM cut: $0.7150(A$894mn),
$0.7195-0.7200(A$883mn), $0.7245(A$790mn).
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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