AUD/USD dropped 42 pips overnight and last...>

AUSSIE: AUD/USD dropped 42 pips overnight and last sits at $0.7297, as the

Aussie came under pressure from the release of softer than expected domestic GDP

figures, which dragged AUD to the bottom of the G10 pile. 

- This played out amidst broader dollar strength triggered by warmer trade

rhetoric out of China and U.S. equity index futures ticking higher overnight,

although this failed to provide any notable support to AUD as Trump tempered

back exp. with a more balanced tweet. 

- The downside focus falls on the 21-DMA at $0.7267 and a break below would open

up the 100-DMA at $0.7240. Conversely, initial resistance is located at the 1.0%

10-DMA envelope at $0.7360. A move through that level would allow bulls to

target yesterday's peak at $0.739. 

- Australian highlights of this week include trade balance and retail sales

figures due Thursday. Elsewhere, RBA's Debelle will also speak on Thursday.