AUD/USD has eased 32 pips and last trades....>

AUSSIE: AUD/USD has eased 32 pips and last trades at $0.6969, with Australian

markets closed for a holiday. Although the immediate reaction to the release of

wider than exp. China's trade surplus was muted, some are pointing to a

significant decline in Chinese imports as a factor likely limiting the Aussie.

- A dip through $0.6963/64, which limited losses last Wednesday, Thursday &

Friday, would shift bearish focus to the 21-DMA at $0.6932. On the topside,

bulls look to the 100-HMA at $0.6984, breached earlier today. A return above the

figure would expose $0.7009, which represents the upper Bollinger band (3%).

- Points of note in the Australian economic docket this week are NAB business

confidence (Tuesday), Westpac consumer confidence (Wednesday) and the report on

domestic labour market (Thursday), which will be closely scrutinised by the RBA.

The central bank's Asst Govs Kent & Ellis both speak on Wednesday.