AUD/USD fell 32 pips overnight and last......>

AUSSIE: AUD/USD fell 32 pips overnight and last sits at $0.7062, as the Aussie

slipped alongside GBP, while the greenback outperformed in the G10 FX space.

- AUD showed muted to no immediate reaction upon the release of Chinese activity

data, although the rate has registered fresh session lows in the time since. The

data broadly met expectations, although industrial output & unemployment

provided some disappointment at the margin, while property investment topped

exp.

- China's NBS suggested that consumption will continue to improve in March and

pointed to seasonal effects owing to the LNY.

- The next layer of support comes at $0.7057, which represents the 200-HMA and

has limited losses so far. A break below would bring the lower Bollinger band

(2%) at $0.7008 into view. Meanwhile, bulls look for a breach of the cloud base

at $0.7068 before shifting focus to the Mar 6/5 high of $0.7092/97.

- The Australian docket is virtually empty during the remainder of this week.