AUDUSD briefly dipped to 0.7595 on...........>

AUSSIE: AUDUSD briefly dipped to 0.7595 on Tuesday, just above the high from May

31 (0.7593) which now provides initial support, before the pair recovered. The

cross has benefitted from the uptick in risk sentiment during Asia-Pacific

dealing, after an ABC sources piece suggested that US Treasury Secretary Mnuchin

has urged Trump to exempt Canada from the steel & aluminium tariffs. AUDUSD last

deals at 0.7632.

- Aussie Q1 GDP data provides the major domestic point of interest today, with

MNI consensus looking for a print of +0.85% Q/Q. Analysts are seemingly focusing

on the stronger partial prints that were released on Monday, as opposed to the

softer components that hit yesterday.

- Focus is set to fall on the household consumption and wage metrics that will

be apparent in the breakdown, two of the focal points of RBA MonPol.

- Notable resistance isn't noted until the the April 23 high (0.7682), while

support is seen at the aforementioned high from May 31 (0.7593), followed by the

21-DMA (0.7549).