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AUSSIE TECHS: 100-dma/0.73 Stand to the Upside
Despite briefly trading above the 100-dma and 0.73 level on Wednesday and
Thursday, the risk averse theme has seen a minor retracement to the 0.7200-50
area. Bears need a break back below the 50-dma at 0.7161 to re-test broken down
trendline resistance-turned-support from the Feb highs, which comes in at
0.7150. Below here opens the Oct 26 low at 0.7021. The 0.73 level is growing in
importance with bulls needing a close above to challenge the Sep 26 high at
0.7315, ahead of the 0.7400 congestion zone.