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AUDNZD remains under pressure.....>

AUSSIE-KIWI TECHS
AUSSIE-KIWI TECHS: AUDNZD remains under pressure as the sharp slide that started
off the Nov 7 high extends. Note the cross has arrived at the 76.4% retracement
of the Aug - Nov rally at 1.0407. A clear break of this level would potentially
open 1.0333, the Aug 7 low. The cross has entered oversold territory so price
action may begin to trade in a somewhat choppier manner rather than the
directional impulse we've seen over the past month. The oversold reading however
does not appear to be a threat to bears at this stage. We would need some
indication from price that a base is being established first. Initial resistance
is Friday's high of 1.0450.

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