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AUD/USD last deals at $0.7072, almost........>

AUSSIE
AUSSIE: AUD/USD last deals at $0.7072, almost unch. on the day, ahead of the
release of domestic NAB biz. conditions survey & private sector credit data,
both at 0030GMT/1130AEDT. Elsewhere, RBA Dep Gov Debelle will speak at
0630GMT/1730AEDT.
- The rate finished 25 pips better off on Monday, after Asia-Pac trade saw AUD
come under some modest pressure stemming from disappointing Chinese money
supply/credit data released over the weekend. However, the pair bounced on the
back of a positive start for Chinese equities and then continued to draw support
from a recovery in risk appetite through the day.
- Bulls initially look to the Mar 6 high of $0.7092 and a breach of that level
would open up the cloud top, situated a further 10 pips above. Meanwhile, bears
focus on the 200-HMA at $0.7066 and a fall below would allow them to target
$0.7037, which represents the 100-HMA.

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