AUD performed relatively well on Monday,.....>

AUSSIE: AUD performed relatively well on Monday, although a softer commodity

backdrop capped gains. The currency largely ignored the latest batch of data

releases, although it does sit at best levels on the session vs. USD & JPY,

while AUDNZD is unchanged at 1.0790.

- In AUDUSD the 100-DMA largely supported last week with the close above the

21-DMA Friday ensuring focus remains on the 0.7885-0.7910 resistance to start

the new week. Bulls need a close above 0.7910 to confirm a break of the 55-DMA

and above 0.7989 to shift overall focus to 0.8135-62 where 2015 & 2018 highs are

situated. Bears now look for a close below the 21-DMA (0.7839) to gain breathing

room and below the 100-DMA (0.7771) to return pressure to 0.7694-0.7710.

- In AUDNZD bulls take comfort in the close above 1.0776 that eases bearish

pressure with focus on the 200-DMA. Bulls need a close above the 200-DMA to hint

at a move back to 1.0943-74 where the bear channel top off 2017 highs and the

100-DMA are noted. The 21-DMA is initial support with bears needing a close

below to signal a false break of 1.0776 and return immediate focus to 2018 lows

and then 1.0458-91 where the LT rising TL off 2015 lows is noted.