AUD/USD struggled for a clear direction on...>

AUSSIE: AUD/USD struggled for a clear direction on Weds. In the U.S., a notable

positive revision to the previous reading of ADP employment change and ISM

M'fing Index's surprise return into expansionary territory pressured the USD,

hence pushing AUD/USD higher in U.S. hours. Optimistic news re: coronavirus

vaccine tests further supported topside momentum. The rate topped out at $0.6944

and trimmed gains into the WMR fix, but still finished on the front foot.

- Australian Treasurer Frydenberg told Sky News that there are no plans to

increase the GST, noting that the gov't has focused on reducing taxes. New tax

cuts for SMEs take effect today.

- AUD/USD sits at $0.6917, little changed on the day. The high of Jun 16 at

$0.6977 remains in focus. A break here would allow bulls to target round figure

resistance/Jun 23 high of $0.7000/05. Bears look for a retreat under Jun 22 low

of $0.6805 before targeting $0.6777, the key Jun 15 low.

- Australian trade balance hits today, retail sales are due Friday.