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Down Trendline Support at 0.7011 The...>

AUSSIE TECHS
AUSSIE TECHS: Down Trendline Support at 0.7011
The downtrend in AUDUSD continues and we have traded at the lowest level since
early 2016 on Friday and approached down trendline support at 0.7011. A break
below the psychological 0.70 level would likely accelerate the broader downside
move, opening channel base support & Jan 26 2016 low at 0.6920/19. Rallies in
AUDUSD continue to be sold ahead of the 21-dma at 0.7108. Bulls need to recover
the 21-dma and Oct 17 high at 0.7160 to improve the outlook and target 0.7200
and the bear channel top.

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