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AUSSIE TECHS: Downtrend Remains Intact
The downtrend in AUDUSD remains intact following the failure to close above the
50-dma and downtrend resistance on Wednesday and the subsequent weakness. Bears
now target a break of the 0.7200 level, where the 21-dma currently comes in.
Through here brings the Sep 11 YTD low at 0.7085 back into play, ahead of the
psychological 0.7000 level which is reported to hold option-related support.
Bulls need a close above the 50-dma at 0.7289 to improve the short-term outlook
and attempt to mount a reversal.