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AUSSIE TECHS: Failing to Topple the 50-dma
Despite trying to topple the 50-dma at the beginning of the European session,
the Australian dollar has fallen back once again towards the 0.71 area. Any
close above the 0.71 handle will add to positive momentum and a break of the
50-dma will set up bulls nicely for $0.7162 and $0.7274 beyond. A weak close
today would suggest a resumption of the longer term bear market.