The AUD has started the week on the back.....>

AUSSIE: The AUD has started the week on the back foot, with AUDUSD having a

brief look below 0.7700, AUDNZD last trading at 1.0675 & AUDJPY at 81.55.

- For AUDUSD Immediate pressure has returned to 2018 lows following the

aggressive break of the 100-DMA and bearish close. Bears focus on the close

below 0.7694 to confirm focus on 0.7500 Dec lows. Bulls look for a close above

the 200-DMA (0.7803) to ease bearish pressure.

- The lack of topside follow through in AUDJPY through last week took its toll

with a sharp sell-off that sees immediate focus back on tests of the 2018 low

and double daily bottom at 81.47 (we have had a brief look below this level

already today). Bulls now need a close above 82.70 to gain breathing room.

- Sideways trading continues in AUDNZD as Bollinger bands narrow. Below 1.0700

returns focus to 1.0588-1.0650 where 2018 lows and the bear channel base are

situated. Bulls still need a close above 1.0894 to confirm breaks of 55 &

200-DMAs and hint at a move to 1.1006-73 where 2018 highs are noted.

- RBA meeting minutes & the labour market report, as well as comments from RBA's

Bullock provide this week's domestic risk events.