AUD/USD moved lower on headlines.............>

AUSSIE: AUD/USD moved lower on headlines suggesting that the U.S. is considering

levying a 25% tariff on Chinese goods, up from the prior 10%, although the

sources attributed did concede that the touted higher tariffs may not come to

pass. The AUD operated in marginal negative territory for the bulk of the

overnight session, last $0.7405.

- China's Caixin Manufacturing PMI was less than inspiring, but had little

effect on the AUD, the cross will of course be subjected to the goings on at the

FOMC MonPol decision, with AU trade data & retail sales due later in the week

providing the domestic headlines ahead of next week's RBA MonPol decision.

- AUD/USD's 50-DMA ($0.7462) and the upper end of the major descending channel

(now $0.7485) provide formidable resistance which need to be overcome to

generate a bullish signal. Initial support is located at the July 30 low

($0.7386).

- Notable option expiries for today's 10 AM NY cut: $0.7499-0.7500 (A$2.5bn).