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50-DMA Acts As Tough Resistance........>

AUSSIE TECHS
AUSSIE TECHS: 50-DMA Acts As Tough Resistance
AUDUSD failed to overcome its 50-dma yesterday and remains in its broader
downtrend with the long-term trendline resistance off the Jan 26 high remaining
intact. A close above 0.7304 is needed to shift the short-term outlook bullish
targeting the 100-dma at 0.7392. Failure to hold above 0.7250 and a subsequent
reversal through 0.7200 would bring the Sep 11 YTD low at 0.7085 back into play.
Below there, the 0.7000 psychological level is reported to hold option-related
support.