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Holding Either Side of 0.70 AUDUSD.....>

AUSSIE TECHS: Holding Either Side of 0.70
AUDUSD trades either side of the 0.70 level searching for direction. Recovery
efforts have so far held shallow and keeps the recent downtrend intact with
bears focusing on a break of the May 6 low at 0.6963. Below here opens the 61.8%
fibo of the Jan rise at 0.6953, ahead of the 2% lower Bollinger band at 0.6920.
Bulls need to clear the 0.7050/60 zone which has registered a series of previous
highs. A successful close above would extend the uptrend towards the Apr 30 high
at 0.7069, ahead of the 0.71 level.

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