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False Break Above 50-dma AUDUSD........>

AUSSIE TECHS
AUSSIE TECHS: False Break Above 50-dma
AUDUSD broke above its 50-dma and the major downtrend following the Fed decision
but closed back below both resistance levels. The risk averse theme keeps the
broader downtrend intact through Europe with bears targeting a break of the
0.7200 level. Through here brings the Sep 11 YTD low at 0.7085 back into play,
ahead of the psychological 0.7000 level which is reported to hold option-related
support. Bulls need a close above the 55-dma at 0.7294 to improve the short-term
outlook and target the 100-dma at 0.7390.

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