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Failed Above 0.7000 Suggestions of a...>

AUSSIE TECHS
AUSSIE TECHS: Failed Above 0.7000
Suggestions of a false break of the 0.70 level has seen AUDUSD retrace back
toward 0.6960/65. The short-term outlook remains neutral with downside focus on
a break of the 21-dma & Jun 3 low at 0.6933/27. Below here would open the range
lows at 0.6865, ahead of the 0.6825/40 area which registered a series of
previous lows through Jan 2016. Bulls need a close above 0.70 to reignite upside
momentum, opening a run at the May 10 high & 50% fibo of the Apr-May fall at
0.7019/29. Further resistance is located at 0.7069/73 from the Apr 30 high &
100-dma.

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