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Rebounds Remain Limited, Maintaining...>

AUSSIE TECHS
AUSSIE TECHS: Rebounds Remain Limited, Maintaining Downside Focus
Intraday momentum indicators are developing some positive divergence, consistent
with a corrective rebound. While AUDUSD has recovered some of yesterday's
losses, rebounds have remained limited. A move above the hourly high of 0.7384
is needed to provide some near-term stability. Bulls would need to regain 0.7411
to shift the focus higher. However, failure to overcome the initial 0.7384
resistance would highlight the strength of the downtrend, suggesting the way is
open for a decline to test the major trendline support at 0.7324 and a
continuation of the long-term downtrend.

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