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May Lows in View Aggressive rate cut...>

AUSSIE TECHS
AUSSIE TECHS: May Lows in View
Aggressive rate cut forecasts & geopolitical tension keeps pressure on the
downside. AUDUSD dipped back under the 0.6900 level and is currently displaying
a near clean sweep of bearish sentiment, according to the MNI FX Technical
Signal Monitor. A break of 0.6890 brings the range lows back into view at
0.6865, ahead of 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 comes in behind at 0.6767. Bulls need to recover the 0.70
level on a closing basis before targeting the double-top resistance area at
0.7020/25.

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