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Tuesday saw a decent rally in AUD/USD,.......>

AUSSIE
AUSSIE: Tuesday saw a decent rally in AUD/USD, ignited in the London morning.
Better risk appetite fuelled a move through Jun 10 high of $0.7063, a key
resistance level, allowing the rate to print a fresh 15-month/YtD high. The
finalisation of an EU fiscal deal lent support to broader sentiment, while
Tuesday's Asia-Pac hours saw RBA Gov Lowe note that although he would prefer a
lower AUD, the currency trades in line with fundamentals.
- AUD/USD sits at $0.7135, 7 pips better off as we type. Yesterday's gains past
the key resistance levels confirmed the resumption of a broader uptrend. A break
above Apr 18, 2019 high/round figure of $0.7199/0.7200 would allow bulls to take
aim at $0.7222, a 1.764 projection of the Mar 19 - 31 rally from Apr 3 low.
Bears see Jul 21 low of $0.7010 as the initial support.
- Upcoming Aussie data releases include flash retail sales (Wednesday), NAB Biz.
Conf. (Thursday), as well as flash CBA PMIs & flash trade data (Friday).

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