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Old 13-02-19, 11:59
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Location: Nashville, TX 76051, USA
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Post AUD/USD sticks to gains oppressive 1-week high, richly above 0.7100 handle

The prevalent risk-concerning mood continues to prompt a follow-through USD to make a attain of taking.
US-China trade optimism underpins China-proxy Aussie and remained in peace.
Traders now see accord following than to the US consumer inflation figures for fresh impetus.


The AUD/USD pair strengthened add-on difficult than the 0.7100 handles and is currently placed at one-week tops, regarding the 0.7130-35 region.

An immersion of supporting factors helped the pair to continue attainment certain traction for the second consecutive session re speaking Wednesday and construct upon the overnight goodish bounce from on extremity of six-week lows.

The US Dollar remained upon the defensive along together amid the prevalent risk-upon vibes, supported by news that the US lawmakers have reached a tentative budget concord to avert substitute partial supervision shutdown.

Risk sentiment bigger add-on after the US President Donald Trump said upon Tuesday that he could succeed to the March 1 tariff deadline to slide for an even if and provided a new boost to the China-proxy Australian Dollar.

Hence, the key focus will remain this week's high-level US-China trade talks, where the world's two largest economies will set sights on to achieve a trade perform-assault and eventually have an effect on investors' appetite for riskier assets.

It would now be interesting to see if the pair is skillful to produce upon the certain proceed as facilitate participants now sky attend to the forgiving of the latest US consumer inflation figures for some active impetus.

The headline US CPI is conventional to ease shortly to 1.5%y/y rate from 1.9% previous and even the slightest of disappointment would be enough to continue prompting some follow-through USD long-unwinding trade.

Technical levels to watch

Immediate resistance is pegged oppressive the 0.7145-50 region and is to the side of following by 100-hours of day SMA, apropos the 0.7165-70 region, above which the pair is likely to surpass the 0.7200 handles and test the 0.7225-30 supply zone.

On the flip side, the 0.7100 handle now becomes quick withhold to defend, which if atypical might slant the pair vulnerable to retest mid-0.7000s intermediate desist to the front eventually dropping to the key 0.70 psychological marks.
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