AUD witnessed modest gains of 0.20%..........>

AUSSIE: AUD witnessed modest gains of 0.20% against the USD overnight, albeit

tied to a narrow $0.7402-38 range. The RBA released minutes from its July

meeting and said there was no strong case for a near-term adjustment in MonPol.

The RBA also noted heightened trade tensions, a global theme among central

banks. Adding, "an escalation of trade tensions could harm global growth by

undermining confidence and delaying investment decisions and could dampen

international trade." AUDUSD remains at elevated levels into Europe, last

$0.7433. Near-term resistance is seen at $0.7455/60 (76.4% $0.7484-0.7361/Jul11

high). To the downside, expect support ahead of $0.7400, a break opens $0.7368

(Jul13 low). AUDJPY touched Y83.60, a break of the Y84 level is needed for the

next leg higher and challenge Y84.53.60 (Jun7 high, 200-dma). EURAUD moved

through the 100-dma (A$1.5787), before finding a base at A$1.5750.