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Sideways Trend Holding After posting...>

AUSSIE TECHS
AUSSIE TECHS: Sideways Trend Holding
After posting five consecutive days of falling highs last week AUDUSD sits above
the broken multiyear up trendline from 2001 and the 100-dma which come in at
0.7227/48. Downside momentum is picking up, but the sideways trend remains
intact for now. The 21-dma at 0.7219 provides some short-term support. For bears
to regain control we need to close below the 50-dma at 0.7179 and the Nov 13 low
at 0.7164. To break out higher, we need to see a close back above 0.7328, the
61.8% retracement from 0.6828-0.8136.

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