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Benefits from China's RRR Cut An.......>

AUSSIE TECHS
AUSSIE TECHS: Benefits from China's RRR Cut
An already improving AUD was further boosted to 0.7054 after the PBoC'S move to
cut its RRR by 1 percentage point. This brings the Dec 27 high at $0.7078 into
view, ahead of the 100-dma at 0.7186. Bears need a weekly close below 0.70 to
regain control, targeting the 38.2% retracement of 0.6741-0.7054 at 0.6934,
before opening a run at the multi-year low.

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