AUD/USD continues to operate on the front....>

AUSSIE: AUD/USD continues to operate on the front foot, aided by the increase in

risk appetite that has been evident in the early part of this week, which has

allowed the cross to move further away from last week's YtD low ($0.7311), to

last deal at ~$0.7480.

- Today's AU NAB business survey provides the main domestic point of interest

this week. The prior confidence metric stood at 6, with the prior conditions

reading standing at 15. ANZ think "Australian business conditions should post a

solid improvement in June. The decline in May was somewhat disappointing, but

strength in other business surveys suggests that sentiment remains elevated. The

details of the report, including capacity utilisation and business profits,

continue to be a point of interest, given their current positive signals for the

labour market."

- Bulls now need a close above the 55-DMA ($0.7499) to hint at a move back to

$0.7611-0.7735. Daily studies are well placed for a fresh leg higher before

overbought becomes an issue. Bears now need a close below the 21-DMA ($0.7419)

to ease bullish pressure.