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Finds support at 0.6865-60, but........>

AUSSIE TECHS
AUSSIE TECHS: Finds support at 0.6865-60, but bearish feel remains
Aggressive rate cut forecasts & geopolitical tensions, along with general USD
strength, keeps the AUD under pressure heading into the new week as the rate
touched an extended low of 0.6861. Rate closed at 0.6872 with Asia extending
move to 0.6870. AUD/USD continues to generate a clean sweep of bearish
sentiment, according to the MNI FX Technical Signal Monitor. The break below
recent range lows at 0.6865 needs to be sustained to expose the 0.6825/40 area,
which registered a series of previous lows through Jan 2016. The 1.618% swing
target of the recent recovery off 2019 lows of 0.6865 to 0.7023 is placed behind
at 0.6767. Bulls need to recover the 0.6931 21-dma & 0.6937 Jun 13 high, before
returning the focus towards the 0.70 level.

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