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PREVIEW: 40-Year Supply Due


Surge In Imports Dragged On GDP Says ING


Futures Give Back Monday's Gains

Asia open $0.7703, range $0.7701 -...>

AUSSIE SUMMARY: Asia open $0.7703, range $0.7701 - $0.7718, Europe open $0.7717,
range $0.7705 - $0.7718.
* AUD/USD opened the Asian session tracking the highs posted yesterday before
adding to its gains and printing a high of $0.7719.
* Throughout the European session, markets have consolidated and the pair looks
to close the week with gains of close to 0.9%.
* Firmer commodity markets (particularly yesterday) and strong performance in
AUD/JPY (which broke above Y87.00 for the first time since early November) have
been the key drivers with risk events to close off the week few and far between.
* Option expiries (to the tune of A$3.53bln) are set to roll off at today's NY
cut which could provide an anchor as volume dims ahead of Christmas.
* Initial support is located at $0.7685 (Daily cloud base), while key-resistance
is now seen at $0.7740 (38.2% fib $0.8125 to $0.7502).
MNI London Bureau | +44 203-865-3809 |