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Early Gains Given Back Early gains.....>

AUSSIE TECHS
AUSSIE TECHS: Early Gains Given Back
Early gains in Asian trading on Monday saw AUDUSD rally towards Friday's high
but fall short allowing bears to reassert their dominance and target Friday's
low at 0.7070. A break below here would open the Feb 12 lows at 0.7054 to extend
the downtrend. Below here opens the 50% retracement level at 0.7018 and the
psychological 0.7000 level. Bulls need to take out the Feb 21 high at 0.7207 to
reignite upside momentum, opening a move toward the 200-dma at 0.7250.

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