The AUD underperformed in early..............>

AUSSIE: The AUD underperformed in early Asia-Pacific trade on Wednesday with

broader USD strength (ex. JPY) & soft consumer confidence data (largely stemming

from an increase in mortgage rates & the political situation) weighing on

AUD/USD which resulted in a session low of $0.7094.

- The rate last deals at $0.7100, after failing to eek out a fresh cycle low

overnight (YtD low stands at $0.7085).

- Bears still look for a close below $0.7100 and the 1.618% swing target

($0.7092), which would open up the key $0.7000 psychological level. Bulls still

need a break back above $0.7305/10 to alter the short-term outlook in their

favour.

- The AU labour market report dominates the AU docket in the remainder of the

week.