AUD/USD Tracking Towards Recent Highs, 100-Day EMA Just Above 0.6700

AUD/USD is marginally firmer, although hasn't been able to sustain gains above 0.6690. The pair was last tracking in the 0.6685/90 region. Recent highs just above 0.6700 aren't far away, while the 100-day EMA is at 0.6703. A move above this level would open up June 27 highs around 0.6720. Also note that the 200-day EMA is just under 0.6750. On the downside, recent lows are around the 0.6620 level.

• Broader USD sentiment is softer in the first part of Tuesday Asia Pac dealings, although there hasn't been much follow through. The BBDXY was last around 1222.60/70, -0.10% for the session so far (earlier lows came in at 1222.13).
• In the cross asset space, regional equity sentiment is positive, while US futures are a touch higher. AU-US Yield spreads sit just off multi week highs, the 2yr government bond yield spread last at -61bps.
• On the data front, Westpac consumer sentiment rose by 2.7% for July, while business confidence rose to flat in June from a -3 prior according to the NAB survey. Earlier CBA's household spending indicator slipped -1.7% m/m for June, leaving the y/y pace at 2.4%.