The AUD traded very heavily last week, breaking its 200 day moving average at 0.7705 and falling on to a US 76 cent handle for the first time since July 13th. From Friday morning’s low around USD0.7630, though, it has crept tentatively higher and in doing so has managed to break above both its 20 day (0.7673) and 50 day (0.7664) moving averages to reach a best level in London today of 0.7682. With conflicting signals from recent economic statistics on CPI and employment, investors have adopted very much a wait-and-see attitude to the Australian Dollar and will be looking for more clues later this week when Thursday brings September’s Trade Balance (consensus +$1.2bn) and Friday sees Retail Sales (+0.4% m/m). Before then, private sector credit and weekly consumer confidence figures are due Tuesday but are unlikely to move the FX dials much as the RBA enters a period of radio silence before next week’s RBA Board meeting. From a technical perspective, the upside break of the 20 and 50 dma’s brings the 100 day moving average within reach at 0.7698 but in truth there is little investor participation in the Aussie Dollar right now other than playing it from the long side against its trans-Tasman neighbor.