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Following the sharp decline over the past....>

AUSSIE
AUSSIE: Following the sharp decline over the past few days, overextended
intra-day indicators point to the potential for a near-term AUD corrective
rebound. Indeed, AUDUSD is currently attempting to rebound from the lower
boundary of the two month descending channel at 0.7580. The initial corrective
target is 0.7635 with a move above here opening the way for gains towards the
0.7655 area, from where renewed downward pressure would be expected keeping the
overall bearish picture intact. Medium term focus remains on the 0.7502 December
lows.

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