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Outright Bearish Trend Having failed...>

AUSSIE TECHS: Outright Bearish Trend
Having failed to recover the 0.7200 level yesterday, the subsequent reversal
amid the backdrop of a stronger USD & narrowing yield differentials has seen
AUDUSD print fresh cycle lows. This now brings the psychological 0.7000 level
into play which is reported to hold option-related support. A break is expected
to accelerate the move, opening the Jan 15 2016 low at 0.6827. Bulls need to
reclaim the 0.72 level and close above the 50-dma at 0.7268 to improve the
short-term outlook.

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