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Recovery Lacks Momentum While the.....>

AUSSIE TECHS
AUSSIE TECHS: Recovery Lacks Momentum 
While the AUD's rally from its lows continued yesterday with a marginal new high
recorded, the recovery lacks momentum keeping the bigger picture outlook
bearish. Bulls need to recover the key 0.7200 area to break the longer term
downtrend, before targeting the 2018 channel top at 0.7223. Bears need a
downside break of 0.7044 before targeting the key 0.70 level. A break below
would likely accelerate the broader downside move, opening channel base support
& Jan 26 2016 low at 0.6920/19.

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