AUD was unreactive to the latest AU..........>

AUSSIE: AUD was unreactive to the latest AU political dealings & comments from

RBA's Debelle, pressured via the AUD/NZD pair. While there were no comments on

the outright direction of MonPol or the AUD from Debelle, he noted that the RBA

would like to be more confident that inflation will be sustained at the target

level, although he expects the current MonPol stance to assist on this front.

Debelle also noted that there is a considerable amount of uncertainty

surrounding spare capacity in the labour market.

- Elsewhere Australian PM Turnbull said that he is not anticipating another

leadership challenge this week, contrary to earlier reports. This came after

formal acceptance that the government won't take tax cuts forward to its next

election prospectus, after the relevant bill failed in the senate earlier today.

- AUD/USD is generating a more balanced outlook on an intraday and cloud basis.

That being said, the pair failed to close above the Aug 08 high ($0.7380). Bulls

need a clean break above this level to open up a move to trendline resistance

from the Jan high ($0.7410) followed by channel top resistance ($0.7453). Bears

need to break Friday's low ($0.7253) to shift momentum lower once again.