AUD crosses knee-jerked lower upon the.......>

AUSSIE: AUD crosses knee-jerked lower upon the release of Australian Q1 GDP

data, before returning to prior levels. Headline Q/Q print missed exp. at the

margin, but some had touted such a miss ahead of the release. Market remains

more attuned to developments in the labour market, which is the driving force

behind RBA MonPol.

- AUD/USD last seen at 0.6995, 4 pips better off. A clean break above the

psychological $0.7000 level would expose the 50-DMA at $0.7026.

- AUD/NZD last deals at NZ$1.0556, 24 pips lower on the day. The pair has moved

away from the session low of NZ$1.0533, touched on the back of comments from

RBNZ Assistant Gov Hawkesby, who said that NZ interest rates will likely stay

broadly around current levels in the foreseeable future. Bears eye the 100-DMA

at NZ$1.0509, after breaking below the 55-DMA, located at NZ$1.0559.

- AUD/JPY last sits at Y75.60, virtually unch. on the day. Familiar technical

picture remains in play, with bulls focused on yesterday's peak at Y75.70 &

bears targeting Y74.97/86, which represents the Jun 3 multi-month low/ lower

1.0% 10-DMA envelope.