AUD has picked a bid on the back of..........>

AUSSIE: AUD has picked a bid on the back of stronger than exp. Australian Q4

private capex, which printed at +2.0% (vs. exp. +1.0% & prev. -0.5%), allowing

the Aussie to outperform its G10 peers. The first estimate of 2019/20 CapEx

printed at A$92.1bn, topping the BBG median of A$90.5bn (Westpac have cautioned

that estimates become more reliable from the 3rd instance).

- AUD/USD last deals at $0.7159, 20 pips higher on the day, with bulls focused

on the 100-DMA at $0.7165, ahead of the up trendline from Jan 03 at $0.7177.

Conversely, initial support is located at the 100-HMA/21-DMA at $0.7153/48.

- AUD/NZD last trades at NZ$1.0454, 34 pips better off, with kiwi still weighed

on by a soft ANZ biz. confidence release. Bulls look to a clean break above the

21-DMA at NZ$1.0457 before challenging NZ$1.0490, which capped gains on Feb 21 &

22. On the downside, initial focus falls on yesterday's low of NZ$1.0414.

- AUD/JPY has added 10 pips and last trades at Y79.35. Initial resistance noted

at Y79.57, where the rate peaked yesterday, followed by the 100-DMA at Y79.81.

Meanwhile, bears target the 21-DMA, located at Y78.88.