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Shallow Recovery While the AUD's.......>

AUSSIE TECHS
AUSSIE TECHS: Shallow Recovery
While the AUD's rally from its lows continued yesterday with a marginal new high
recorded, the recovery failed to gain traction suggesting the recent downtrend
looks set to continue. 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. Bulls need to
recover the key 0.7200 area to break the longer term downtrend, before targeting
the 2018 channel top at 0.7223.

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