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AUSSIE TECHS: Fading The Recovery
AUDUSD encountered resistance above 0.71 and keeps the recent downtrend intact.
Bears focus on a break of Friday's low at 0.7061 to bring the 50% retracement
level at 0.7018 into view. Bulls need a positive close above 0.71 in order to
mount a recovery of the 100-dma at 0.7167. A break of 0.72 changes the outlook,
putting focus back on the 200-dma at 0.7280, a key level that hasn't been closed
above since March.