AUD benefitted from a much stronger than.....>

AUSSIE: AUD benefitted from a much stronger than exp. AU labour market report

overnight, with a strong headline number, breakdown and an uptick in the

participation rate, which meant that the unemployment rate held steady.

- AUD/USD rallied to $0.7200 from $0.7175 on the release, last $0.7180 as the

dollar firms a touch into EU trade. Bulls still need a close back above

$0.7305/10 to alter the short term outlook in their favour. The Sep 07 high

($0.7203) provides initial resistance. Initial support is noted at the intraday

low of $0.7168. Bears target a close below the September 11 YTD low ($0.7085),

to open up a move toward the key $0.7000 psychological level which is reported

to hold option-related support.

- Domestic focus now turns to the release of the RBA's meeting minutes next

Tuesday.

- Nearby option expiries of note at today's 10AM NY cut:

$0.7095-0.7100(A$1.56bn), $0.7150(A$817mn), $0.7220-30(A$1.1bn),

$0.7270-75(A$1.07bn), $0.7284-85(A$1.71bn)