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AUSSIE TECHS: Accelerating Downtrend
The retracement back under 0.71 accelerated through 0.7065 on broad-based dollar
demand. Bears focus on a break of Friday's low at 0.7061 to bring the 50%
retracement level at 0.7018 into view. Bulls need a positive close above 0.71 in
order to mount a recovery of the 100-dma at 0.7167. A break of 0.72 changes the
outlook, putting focus back on the 200-dma at 0.7280, a key level that hasn't
been closed above since March.