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Back on The Defensive Strong unemployment....>

AUSSIE
AUSSIE: Back on The Defensive
Strong unemployment figures saw AUDUSD pierce the 0.72 level, followed by a
sharp retracement back through 0.71 after Westpac RBA rate cut calls & Rtrs
source story on China banning Australian coal imports. Recovery efforts have so
far remained shallow with bears downside focus on a break of the Feb 12 low at
0.7054. Bulls need a close above the 100-dma (0.7161) to reignite momentum,
targeting a break of the 0.72 level.

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