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The Australian equity market is currently plagued by the malaise inhibiting trade in ex-US shares. Following a round of aggressive profit taking a fortnight ago, the ASX 200 has discovered a comfortable range between 6130 and 6195, with the 100-hour EMA at 6170 proving an especially sticky point. Volumes in recent weeks have been relatively – though not remarkably – light, suggesting that as the market stands, investors are less bearish on the ASX, and more reluctant to buy back in, particularly amid the escalating US-China trade war. This being so, though fundamentals are generally conducive to another move higher, dulled risk appetite will weigh on equity indices – a situation that will remain so while uncertainty regarding the trade war reigns supreme.