AUD/USD last trades at $0.71175, a handful...>

AUSSIE: AUD/USD last trades at $0.71175, a handful of pips softer on the day,

after the rate failed to extend above the China data inspired Asia-Pacific highs

on Wednesday, and closed back below its 200-DMA, extending the run of closes

below the key MA, which stretches back to mid-March 2018.

- Labour market data provides the key risk event today for the AUD today, with

the RBA relying on the labour market to create inflationary pressure, over time,

and seemingly more cognisant of downside risks to its baseline view in the

scenario analysis that was covered in the minutes of its most recent MonPol

decision.

- From a technical perspective, bulls will look for a break above the 200-DMA,

followed by yesterday's high and the Feb 21 high at $0.7206/07. Bears need a

break below clustered support from $0.7167 through $0.7116.

- Elsewhere, the quarterly NAB business survey will provide some interest, while

the AUD has shrugged off the latest round of CBA PMI data.