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Bearish Breakout Confirmed The.........>

AUSSIE TECHS
AUSSIE TECHS: Bearish Breakout Confirmed
The AUDUSD decline has been extended through the 0.7370 key support level to
confirm the bearish break out from the recent consolidation range. Daily
momentum indicators are also starting to turn lower again, consistent with a
resumption of the major downtrend. The way has now been opened for a decline to
test the major trendline support at 0.7324. Intraday rebounds have remained
limited to the 50% retracement level of the previous decline, consistent with an
impulsive structure developing to the downside. A move above 0.7411 is now
needed to stabilise the technical picture.

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