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AUD strength faded after the release of......>

AUSSIE: AUD strength faded after the release of the latest RBA MonPol meeting
minutes, as the Bank noted that a cut to its cash rate would be appropriate in
case of no further improvement in the labour market. AUD crosses have erased
their earlier gains, as a result.
- Markets had already digested as much in the wake of the latest labour market
report, given the RBA's focus on the labour market combined with the uptick in
unemployment, underutilisation and underemployment in March & April.
- AUD/USD last trades flat at $0.6910. Below $0.6900 would expose the $0.6872-68
zone, which hosts the 76.4% fibo retracement of the year's range, the lower Boll
band (2%) & the 1.0% 10-DMA envelope. Bulls look to the 200-HMA at $0.6940.
- AUD/NZD last sits at NZ$1.0575, almost unchanged. Initial support noted at
NZ$1.0527, which represents the 50-DMA. Bulls continue to target the
psychological NZ$1.0600 level.
- AUD/JPY last seen at Y76.14, 11 pips better off, as the yen remains the G10
underperformer. Bears look to Y76.00, bulls eye yesterday's high of Y76.39.
- Focus turns to a speech from RBA Gov Lowe, due at 0410 BST.

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