On Tuesday, AUD/USD extended its losing......>

AUSSIE: On Tuesday, AUD/USD extended its losing streak for a third consecutive

day, bottoming out at the Jul 17 low of $0.6996 and closing just above worst

levels. The rate slid through the Asia-Pac session and after clawing back the

bulk of its earlier losses ahead of the London noon, it tanked again into the

WMR fix. The move was largely driven by the strengthening greenback, which drew

support from a continued trim in pricing for a 50bps cut from the Fed in July.

- Also on Tuesday, MNI reported that the RBA is increasingly confident the

property market has bottomed out, which could make the Bank's easing cycle

shorter than predicted (see MNI Main wire 10:51 BST 07/23).

- With the rate holding steady at $0.7002, bears look for a fall through the

nearest round figure, followed by a break below the $0.6996-94 zone, which hosts

the lows of May 5, Jul 17 & Jul 23, as well as the highs of Jun 6, Jun 26 & Jul

8. A clean break here opens the 50-DMA at $0.6958. Bulls look to the 100-DMA at

$0.7017. Above brings into play the 200-HMA & cloud top, both at $0.7028.

- Flash Australian CBA PMIs are exp. at the top of the hour, with skilled

vacancies data coming up later in the day. RBA Gov Lowe will appear on Thursday.