AUD/USD last seen at $0.6957, a touch........>

AUSSIE: AUD/USD last seen at $0.6957, a touch lower on the day.

- The rate dropped in yesterday's Asia-Pac session, weighed on by equity

sell-off in China, but more than erased losses through European hours ahead of

the USD-driven whip-saw.

- A dip to the intraday low of $0.6942 was seen as notably dovish Fed member

Bullard stated that the current situation "does not call for a 50bps cut" in

July, while Fed Chair Powell's comments were read as slightly hawkish at the

margin (no indication of an impending 50bps cut in July).

- Some of these losses were erased promptly & the rate finished virtually unch.

- On the technical front, worth noting that the rate breached its trendline

resistance yesterday, but failed to close above. The level kicks in today at

$0.6965, just ahead of the 50-DMA at $0.6966. Above here opens the cloud base at

$0.6991. Bears target the 21-DMA at $0.6935 and below here would expose the

200-HMA, located at $0.6905.

- RBA's Bullock did not mention MonPol/economic outlook in her Tuesday speech.

- Australian private sector credit data is due on Friday.