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False Break of 0.70? Despite...........>

AUSSIE TECHS
AUSSIE TECHS: False Break of 0.70?
Despite touching lows of 0.6988 yesterday, AUDUSD rallied to close above the key
0.70 level. The recovery extends through 0.7030 suggesting a false break, with
bulls looking to take out the Apr 24 recovery high at 0.7050. A topside break of
0.71 would stabilise the outlook and bring the 100-dma back into view at 0.7123.
Bears look to clear 0.70 to extend the major downtrend and bring the 61.8%
retracement of the Jan recovery into play at 0.6953.

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