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China Data In Awaited


Japan May Exports +49.6% Y/Y; 3rd Monthly Rise


Flat Start

AUSSIE: Thursday provided a limited session for AUD/USD as the rate stuck to a
tight range closing just above the 100-DMA at $0.7252, last $0.7254, operating
in a tight range in early Asia-Pacific trade.
- AUD/USD has now spent the majority of the month trading between $0.7224 and
$0.7340 cementing its sideways trend. To break out higher, we need to see a
close back above $0.7328, the 61.8% retracement of the move from $0.6828 to
$0.8136. The 21-DMA at $0.7212 provides a degree of short-term support. For
bears to regain control we need to close below the 50-DMA at $0.7178 and the Nov
13 low at $0.7164.
- Next week will bring speeches from RBA Gov. Lowe & RBA's Kent and the release
of Q3 CapEx data.
MNI London Bureau | +44 0203-865-3809 |