AUD/USD shed 20 pips overnight and last......>

AUSSIE: AUD/USD shed 20 pips overnight and last sits at $0.7073, as regional

data releases piled pressure on the Aussie. Weaker than exp. Q4 net exports of

GDP, which slipped to -0.2% Q/Q from +0.4% vs. exp. -0.1% came in first, adding

to worries ahead of the release of AU Q4 GDP, scheduled for tomorrow. The

subsequent release of soft Chinese Caixin services/composite PMI data triggered

another leg lower. Also worth noting that the pair knee-jerk spiked 15 pips

higher in the wake of today's RBA MonPol decision. The Bank left its cash rate

unch., as exp., with little in the way of notable tweaks to the language in the

statement accompanying the decision.

- Bears look for a clean break below the cloud top/cloud base at $0.7069/68,

ahead of the 1.0% 10-DMA envelope at $0.7050, which coincides with A$1.61bn

worth of options expiring at the 1000ET NY cut. Meanwhile bulls look to the Feb

22 low of $0.7083, followed by the 100-HMA at $0.7108. Also worth highlighting

A$3.43bn worth of options with strikes of $0.7150 expiring at the 1000ET NY cut

- AU focus turns to domestic Q4 GDP & a presser with RBA Gov Lowe due tomorrow,

while retail sales & trade balance will hit on Thursday.