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Failed Break of 0.7000 Having..........>

AUSSIE TECHS
AUSSIE TECHS: Failed Break of 0.7000
Having previously witnessed a false break of 0.70, AUDUSD has struggled for
traction and remains locked in narrow range trade. The short-term outlook
remains neutral with downside focus on a break of the 21-dma & Jun 3 low at
0.6932/27. 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 weekly 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.

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