AUD/USD has edged lower in early.............>

AUSSIE: AUD/USD has edged lower in early Asia-Pacific dealing, with weight added

via the AUD/NZD cross on the back of a strong NZ retail sales print, last 10

pips or so softer at $0.7360.

- AUD/USD printed a high of $0.7382 on Tuesday, aided by the broader USD

weakness, generating a more balanced outlook on an intraday and cloud basis.

That being said, the pair failed to close above the Aug 08 high ($0.7380). Bulls

need a clean break above this level to open up a move to trendline resistance

from the Jan high ($0.7410) followed by channel top resistance ($0.7453). Bears

need to break Friday's low ($0.725) to shift momentum lower once again.

- Lower tier local risk events today include the Westpac leading index & skilled

vacancies prints (although the RBA does pay a lot of attention to the latter),

with participants set to focus on the Q2 completed construction work metric, as

well as a speech from RBA Asst. Gov. Guy Debelle, covering the subject of "low

inflation."