AUDUSD eased from ~0.7605 to a low of........>

AUSSIE: AUDUSD eased from ~0.7605 to a low of 0.7530 on the FOMC hike/hawkish

tinge to the statement, but the broader USD strength has since abated to a

degree, allowing the pair to recover a touch and last deal at 0.7565.

- Hourly support from yesterday is noted at 0.7548, with the daily bull channel

base from the YtD low coming in at 0.7523 today. To the upside, resistance is

seen at the June 08 high of 0.7627, followed by the high from April 23 at

0.7682.

- Focus today will fall on the domestic labour market report, with

under-unemployment and underutilization continuing to run at elevated levels. In

a speech delivered yesterday, RBA Governor Lowe reiterated that the central bank

expect wage growth to pick up, but only gradually. The trajectory of wage growth

may hinge on the two aforementioned factors that we have highlighted above.

Ultimately Lowe reiterated that the next move in the cash rate is likely to be

higher, but conceded that even though Q1 GDP was stronger than the RBA expected,

the move will not come for some time.