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Friday's False Break Keeps Downtrend...>

AUSSIE TECHS
AUSSIE TECHS: Friday's False Break Keeps Downtrend Intact
AUDUSD touched highs of 0.7132 on Friday, but failed to consolidate gains with
the pair dropping back below 0.71. Recovery efforts remain shallow and keeps the
broader downtrend intact, putting the focus back on the Mar 20 low at 0.7057,
ahead of the 50% retracement level & cloud base at 0.7018. On the upside a close
above 0.7130/35 is required to establish a higher high and suggest a bullish
break, opening the 100-dma & Mar 26 high at 0.7143/48.

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