Failed Move Up to 0.71 AUDUSD..........>

AUSSIE TECHS: Failed Move Up to 0.71

AUDUSD remains locked in a downtrend and a move up to 0.7100 in the Asian

session was faded as London traders began their day. The Oct 8 low at 0.7041

continues to hold but is coming under pressure, and below here would see AUDUSD

trading at its lowest level since early 2016 as the 0.70 level comes into play.

A break below 0.70 would likely accelerate the broader downside move, opening

channel base support & Jan 26 2016 low at 0.6920/19. Bulls need to recover the

Oct 17 high at 0.7160 to improve the outlook and target 0.7200 and the bear

channel top.