AUD/USD last trades flattish at $0.6972......>

AUSSIE: AUD/USD last trades flattish at $0.6972 ahead of the release of

Australian trade balance data at 0230BST/1130AEST.

- Yesterday saw the pair knee-jerk lower upon the release of softer than

forecasted Q/Q GDP growth out of Australia (this had been touted by some

beforehand), but the move was immediately retraced, with recovery extending into

European hours and pushing AUD/USD above $0.7000.

- The rate pared gains in early London afternoon before spiking higher on the

back of particularly disappointing U.S. ADP employment data.

- Nonetheless, USD demand inspired by better than exp. non-m'fing ISM print

drove the rate lower toward the end of the day.

- Bears need a violation of the 21-DMA at $0.6933 to return focus to the

downside and bring the May 31/30 lows of $0.6901/0.6899 into play. Bulls look

for a break above the psychological $0.7000 level before challenging the

50-DMA/55-DMA, which come in at $0.7024/30.