AUD/USD fell afoul of the broader USD........>

AUSSIE: AUD/USD fell afoul of the broader USD strength on Monday, with

additional pressure applied as the greenback weighed on the base metal space.

USD/CNH's also limited the cross overnight, last dealing 10 pips or so softer at

0.7375, 10 pips off the overnight low.

- Bulls took comfort in the failure to make fresh 2018 lows and the bounce to

end last week that returned pressure to the $0.7442-84 resistance region. Bulls

now need a close above the July 10 high ($0.7484) to confirm a break of the

55-DMA ($0.7475) and hint at a move back to $0.7570-0.7735 where 100 ($0.7570) &

200 ($0.7671) DMAs are located with above $0.7552 confirming. The failure ahead

of $0.7442 leaves the pair looking a little offered with bears currently focused

on 2018 lows ($0.7311), with the Bollinger band base ($0.7327) providing the

initial level of support today.

- Participants await the AU CPI release, due tomorrow.