بنك باريس الاهلى

[ABHAFXS]

says AUD/USD upside momentum weak, remains a seller on rallies. Says drop in jobless rate from 4.3% to 4.1% was unexpected and has spurred AUD rebound but predicts labor market will soften in medium term with companies unable to sustain hiring as economic activity slows; RBA may in meeting minutes next week signal concern on pace of AUD fall, "but any near-term rallies in the Australian dollar, post the RBA minutes, should be used to form short positions because cyclical factors will continue to work against" AUD. Sets short-term trading target at 0.7800; says sell at 0.8050 with stop at 0.8150. Now around 0.8052

[ABHAFXS]

action; Hearing talk of two U.S. investment banks aggressively selling above 0.8050