• AUD/USD holds onto post-US CPI drop as weekend risk limits recovery

• Slump in China export/import growth highlights China's fragile economy

• Path of least resistance remains on downside for AUD given uncertain outlook

• Closing break through YTD low (0.6286) opens up 2022 low (0.6170)

• Rebound attempts capped at 0.6450-0.6500 keep shorts in control

• Avoidance of geopolitical escalation over w/e likely provides relief for AUD

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