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Bulls Targeting Break of 0.7000 AUD....>

AUSSIE TECHS
AUSSIE TECHS: Bulls Targeting Break of 0.7000
AUD underpinned by broad dollar sales 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 look to break back below 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.

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