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0.70 Becomes Resistance AUDUSD.........>

AUSSIE TECHS: 0.70 Becomes Resistance
AUDUSD breached pivotal support yesterday, with the rate touching flash crash
lows of 0.6741, a level not seen since 2009. AUD recovered off the low extending
the move to 0.6970/75 in early Europe. A break back above 0.70 is now needed to
suggest a bullish reversal, opening the Dec 27 high at $0.7078, ahead of the
100-dma at 0.7186. Near-term support comes in today from the 3% lower Bollinger
band & 50% retracement of 0.6741-0.6948 at 0.6850/45, below here opens a run at
the multi-year low.

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