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Back Below the 50- and 100-dmas........>

AUSSIE TECHS
AUSSIE TECHS: Back Below the 50- and 100-dmas
After closing 50- and 100-dma on Friday and challenging the 0.7200 level on
Monday, AUDUSD has moved back below the two moving average levels at the time of
writing, returning the cross to a neutral outlook. For a convincing break
higher, we need to break the 0.72 level, above which would bring the Jan 11 high
& 76.4% retracement level at 0.7235/40 come into play ahead of the 200dma which
currently sits at 0.7299. Bears need a move back under 0.71, returning the focus
to the 38.2% retracement level at 0.7046.

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