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AUSSIE TECHS: Struggling For Traction
Despite briefly trading above 0.72 on strong domestic jobs data, Westpac RBA
rate cut calls & the Rtrs source story on China banning Australian coal imports,
added weight. AUDUSD has struggled to gain traction with downside focus on a
break of the Feb 12 low at 0.7054, below here opens the 50% retracement level at
0.7018. Bulls need a close above the 100-dma (0.7161) to reignite momentum and
target a break of the 0.72 level.