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AUSSIE: Bulls Need A Close Above 0.72
Despite an improvement in global risk appetite AUDUSD has been unable to hold
above the 0.72 level, which keeps the broader downtrend intact. A close above
here opens a move toward the 0.7305/10 area in an attempt to stage a bullish
reversal and target the 100-dma & August highs at 0.7410/53. Failure to hold
0.72 keeps the Sep 11 YTD low at 0.7085 in play, ahead of the key 0.7000
psychological level which is reported to hold option-related support.