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AUSSIE TECHS: Bears Look To Close Below 0.70
Trade tensions pressured AUDUSD comfortably back below the 0.70 mark and a close
below here would strengthen the downtrend. Below here lies 0.6953 marking the
61.8% fibo of the Jan rise, below here opens a run at the 0.69 level. Bulls
target 0.7029 initially, before focus flips higher to 0.7069, the 0.71 level and
the 55-dma. A break above the 200-dma at 0.7168 is needed to suggest a bullish
reversal. The RBA rate decision this week becomes critical to the outlook.