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Downside Pressures Build but...........>

AUSSIE TECHS
AUSSIE TECHS: Downside Pressures Build but Sideways Trend Remains
After posting five consecutive days of falling highs last week, AUDUSD initially
moved higher on Monday but has since fallen back below the 100-dma but has found
support back at the broken up trendline from 2001 comes in at 0.7227. Downside
momentum is picking up, but the sideways trend remains intact for now. For bears
to regain control we need to close below the 50-dma at 0.7179 and the Nov 13 low
at 0.7164. To break out higher, we need to see a close back above 0.7328, the
61.8% retracement from 0.6828-0.8136.

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