The AUD was the outperformer overnight, in...>

AUSSIE: The AUD was the outperformer overnight, in the wake of a strong Aussie

labour market report, with the big headline beat driven by full time jobs and a

tick up in the participation rate observed. However, AUD/USD's initial

resistance, the July 16 high ($0.7442), is seemingly limiting further AUD

follow-through for the time being, after U.S. 10-Year yields breached their

month-to-date high, adding a layer of support to the USD, limiting its losses

overnight.

- AUD/USD last deals at 0.7415, after registering a high of $0.7441 in the wake

of the labour market report, as mentioned initial resistance comes in the form

of the July 16 high ($0.7442), followed by hourly support from July 10

($0.7459). To the downside, support comes in at the Bollinger band base

($0.7331), followed by the YtD low ($0.7311).

- Participants now look to next week's AU CPI release for the next key domestic

risk event for the AUD.