AUD/USD operated within a ~25 pip range......>

AUSSIE: AUD/USD operated within a ~25 pip range overnight and last trades at

$0.7190, a touch higher on the day. The rate came under modest pressure on the

back of soft Aussie completed construction work data, which printed at -3.1% Q/Q

vs. exp. of +0.5%, but the rate subsequently recovered.

- Many economists are pointing to the potential for a downside surprise in next

week's GDP print/marking down their estimates as a result of today's release.

- Initial resistance noted at $0.7219, which represents the upper 1.0% 10-DMA

envelope. A breach of that level would draw bullish attention to the 200-DMA,

located at $0.7257. Conversely, bears look for a fall through $0.7175, which

represents the 50% fibo retracement of the move from $0.7295-$0.7054 and which

limited losses today. This would allow them to target the 100-DMA, situated a

further 10 pips below.

- Australian focus turns to private capex (one of the Q4 GDP partials) & private

credit due tomorrow, as well as m'fing PMI due Friday. The speakers' slate is

empty, but Chinese PMI data, due Thursday & Friday, will also draw attention.