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The strength of the greenback and pressure...>

AUSSIE
AUSSIE: The strength of the greenback and pressure via the AUD crosses pushed
AUD/USD back below $0.7400 on Thursday.
- The cross last trades unchanged, a touch shy of the $0.7380 level. Bulls took
comfort in the failure to make fresh 2018 lows and the bounce to end last week
that returned pressure to the $0.7442-84 resistance region,  but still need a
close above the July 10 high ($0.7484) to confirm a break of the 55-DMA
($0.7470). While 0.7484 caps bears retain initial focus on retests of 2018 lows
($0.7311).
- Traders now look to next week's Jun/Q2 retail sales release followed by the
RBA decision on 07 August.
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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