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Fresh Cycle Lows Despite rallying......>

AUSSIE TECHS
AUSSIE TECHS: Fresh Cycle Lows
Despite rallying back above 0.7200 on strong AU GDP, the firm USD theme pared
gains to print fresh cycle lows. The bearish downtrend remains intact with
immediate focus on the May 24 2016 low at 0.7145. Below here would likely
accelerate the move toward the 1.618% swing target at 0.7092, ahead of the key
0.7000 psychological level. Bulls need a break back above 0.7305/10 to change
the short-term outlook and target the August highs of 0.7453.

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