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Holding heavy ahead of Australian CPI,.......>

AUSSIE
AUSSIE: Holding heavy ahead of Australian CPI, Aud/Usd recovered off pullback
lows of $0.7580 to make a show above $0.76 after the balanced release. Despite
the headline number missing expectations, core measures fared slightly better
and this is what the RBA focus on. RBA Assistant Governor Kent also spoke last
night and reiterated the banks view that the next move in interest rates is
likely to be up. As UST yields eased with the USD, AUD was able to consolidate
above $0.7600 into Europe. Downside support remains at $0.7563/53 (10-week bear
channel base projection/Dec13 low). Resistance at $0.7669 (38.2%
$0.7813-0.7580). Aud/Usd last $0.7608.

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