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The failure of the AUD to hit a new high.....>

AUSSIE
AUSSIE: The failure of the AUD to hit a new high for the week yesterday amid a
broad-based recovery in risk appetite and the rally in the yuan is a bearish
signal, with yesterday's high of 0.7287 now likely to act as resistance as the
broad downtrend continues.
- The pair trades in the middle of its recent range at 0.7256, with a break
below 0.7250 likely to trigger a run at Wednesday's lows. AUDCNH is also testing
recent lows, currently trading at 4.9840. 
- RBA Governor Philip Lowe noted in a statement today that there is not a strong
case for a near-term adjustment in interest rates, saying that "it is likely
that we will hold steady for a while yet." The AUD has traded slightly weaker
since the comments. 

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