Local exporter demand supported overnight....>

AUSSIE: Local exporter demand supported overnight which has seen the AUD largely

consolidate gains at the NY crossover.

- AUDUSD currently trades either side of $0.7050 with topside focus on a break

of $0.71 ($0.7097 50% $0.7206-0.6988) and the 100-dma at $0.7121.

- AUDJPY challenged the 100-dma (Y78.85) with a close above here needed to

extend the uptrend. The 61.8% retracement of the Nov-Jan fall comes in at

Y78.92, expect resistance behind and through to Y79.00.

- AUDCAD briefly traded above C$0.9500 but failed to take out the 200-dma at

C$0.9502. This level is now starting to grow in importance having registered a

number of rejections around here.

- EURAUD remains in a short-term channel, touching pullback lows of A$1.5806. A

break of A$1.5800 brings the 21-dma & channel base into view at A$1.5786/80.

- AUDCHF based ahead of previously broken up trendline support off the Jan 3 low

with the recovery extending to Chf0.7198. The Chf0.7195/00 area provides an area

of previous highs, with a break here needed to challenge the 50% & 61.8% fibos

of Chf0.7275-0.7140 at Chf0.7208/23.