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Risk Appetite Improves Short...........>

AUSSIE TECHS
AUSSIE TECHS: Risk Appetite Improves
Short covering post RBA Deputy Governor Debelle's speech improved risk
overnight. AUDUSD squeezed through the 100-dma (0.7141) to 0.7151 and holds firm
at typing. Down trendline resistance off the Dec 4 high comes in today at
0.7169, a break opens a move toward the 200-dma at 0.7197. Bears now look for a
move back under 0.71 to suggest another false break. Below here opens a run at
the Apr 2 low at 0.7053, ahead of the psychological 0.70 level.

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