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AUSSIE: Despite briefly trading above the 100-DMA & $0.7300 level on Wednesday
and Thursday, the risk averse theme & lack of upward movement in the RBA's
longer term inflation forecasts has allowed AUD/USD to retrace to the $0.7200-50
- AUD/USD last $0.7225, Immediate support is located at the November 07/06 lows
of $0.7213/05, with a break opening up touted option related support at the
psychological $0.7200 level. Bulls need a break above the 100-DMA of $0.7263,
with the $0.7300 level growing in importance.
- AU focus this week moves to domestic labour market data, wage prices,
inflation exp., biz/consumer confidence, as well as an address from RBA Dep.