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Bears Targeting 100-DMA Rejection of...>

AUSSIE TECHS
AUSSIE TECHS: Bears Targeting 100-DMA
Rejection of the 0.72 level last Thursday and failure to hold the 200-dma has
seen the retracement extend back through 0.7150. AUDUSD rests on 100-dma support
at 0.7132, with a close under here needed to shift the focus back to the 0.71
handle. Below here opens the 38.2% retracement & Mar 29 low at 0.7083/73. To
regain the upper hand bulls need to recover the 200-dma to open a move towards
0.7226/46 which represents the 76.4% retracement of 0.7295-0.7003 & Feb 6 high.

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