AUSSIE$:

10July

Support: 1.0142: 20June high

1.0075: Rising 21-day moving average

1.0050: Lower end of rising channel in place since 01June

1.0000: Psychological level and 50% retracement of the late April to early June decline.

0.9880: -2STD below 21-day moving average

0.9565: 01June low, traces back to support from last November.

Resistance: 1.0210: 200-day moving average

1.0270: +2STD above 21-day moving average.

1.0280: intermediate resistance at high trade area from 4/3, 4/12, and 5/1

1.0300: Psychological level

1.0325: Late April highs for September contract.

1.0430: Upper boundary of rising channel in place since 01June.

1.0422: 27Apr high.

Comment: Slowing Rate of Change and slowing Momentum as the gently falling 200-day moving average, which has offered resistance and rising 21-day are on a collision course.

This week's Housing and Labour surveys are just ahead.

Interestingly, and similar to the US Equity Indices, the Aussie has been in a rising channel since making the 01June recent low. A probe below the lower boundary (1.0050) targets support levels noted above.

Seasonal Snapshot (cash): The 5-year pattern's upward bias extends until the end of July.

The 15&30yr patterns fall out of bed throughout the rest of the month.