Bulls Need to Clear 0.70 AUD...........>

AUSSIE TECHS: Bulls Need to Clear 0.70

AUD witnessed limited react after the RBA cut its cash rate to 1.25% as

expected. AUDUSD topped out at 0.6993 with bulls near-term focus on a break of

the $0.70 level. Above here opens the 50 & 55-dma's at 0.7028/35, ahead of the

May 7 high at 0.7048. Down trendline resistance from the Dec highs and the

200-dma would come into play above here. Bears need a break back under the

21-dma at 0.6935 to return the focus to the downside. Below here would open the

range lows at 0.6865 ahead of the 0.6825/40 area which registered a series of

previous lows through Jan 2016.