AUD/USD trades flattish at $0.6461 after.....>

AUSSIE: AUD/USD trades flattish at $0.6461 after rallying in Monday's Asia-Pac

session as some Australian states were planning to relax social distancing

measures. The rate held gains through the rest of the day, with the greenback

dented by firmer risk appetite.

- The rate punched through a key resistance level at $0.6445 on Monday,

signalling the resumption of bullish momentum. Topside focus is on Mar 12 high

of $0.6492, followed by the 100-DMA at $0.6573. Bears look for a drop through

Apr 24 low of $0.6337, towards $0.6254, Apr 21 low & a key near-term support.

- Australian Treasurer Frydenberg said that on May 12 he will update lawmakers

on the economic consequences of the coronavirus outbreak and actions taken by

the government to date. His address is in line with the usual release of the

Budget, which has been delayed until Oct 6.

- Worth re-flagging our latest RBA Insight piece noting that Australia's central

bank thinks that economic recovery will be quicker than initially expected.

- Coming up in Australia this week we have CPI data (Wednesday), as well as

terms of trade, private sector credit and AiG M'fing PMI (Thursday).