The break back under $0.7700 triggered.......>

AUSSIE: The break back under $0.7700 triggered fresh supply from momentum-type

accounts to $0.7697 (200-dma) before fading. The Asia low provides next support

at $0.7673, more techs at $0.7648/40 (Nov1, Oct27 low). Optional-expiry interest

also a worthy reminder for today's NY cut at $0.7700 ($1.49bn). Looking further

ahead is tomorrow's Australian Retail Sales release at 0030GMT. RBC note the

September number will include both the monthly turnover figure and Q3 volumes,

adding "our economists are monitoring it to judge the strength of real

consumption, which is a key input into Q3 GDP forecasts (6 Dec). An unexpected

soft Q3 CPI print may temper the impact on volumes given particular weakness in

food, clothing and footwear sub-component prices. RBC see "the quarterly

deflator at -0.6%, boosting our Q3 volume measure of retail turnover to a still

modest 0.4%."