AUD outperformed on Tuesday, allowing........>

AUSSIE: AUD outperformed on Tuesday, allowing AUD/USD to close above $0.7100,

with the rate last dealing at the figure.

- Australian CPI headlines the docket today. Median expectations look for a

headline Y/Y CPI read of 1.9%, slowing from the prior 2.1%, while the trimmed

mean and weighted median CPI metrics are expected to hold steady at 1.9% Y/Y.

Consensus looks for a headline CPI read of 0.5% Q/Q, against 0.4% in Q2, while

the trimmed mean and weighted median CPI metrics are both expected to moderate

to 0.4% Q/Q from the 0.5% observed in Q2.

- Bulls focus on the Oct 17 high at $0.7160, a break changes the short-term

outlook targeting the $0.7200 level and bear channel top. On the downside, bears

look to Friday's low at $0.7021, just ahead of the psychological $0.7000 level.