AUD/USD trades flat at $0.6974 after.........>

AUSSIE: AUD/USD trades flat at $0.6974 after adding 15 pips yesterday, mostly on

the back of persistent greenback weakness stemming from the recent dovish

Fedspeak. Despite showing some modest weakness early on, the rate advanced

through Asia & Europe, peaking at $0.6988, before slightly better than exp. U.S.

CPI print prompted it to pare some of the earlier gains.

- A congestion of key technical levels, including the mid-point of the YtD

range, cloud base, 21-DMA and 55-DMA, is seen within the nearby $0.6956-53 zone,

which limited losses yesterday. The region remain the initial downside target,

with a break opening the trendline support at $0.6907. Bulls look to the 200-HMA

at $0.6982. If the level gives way, focus will turn to $0.7000.

- RBA Dep Gov Debelle spoke on Global FX Code, didn't mention MonPol/outlook.

- A pretty lacklustre day is expected in Australia, with no major speeches or

data releases scheduled. On the docket next week are minutes from the RBA Jul

MonPol meeting due Tuesday and the key labour market report due Friday. China's

economic activity indicators may provide some interest on Monday.