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AUSSIE TECHS: Treading water
While bears took confidence from the drop in AUD/NZD across Asia, AUD/USD proved
resilient and continues to generate a more balanced outlook. A close above
$0.7380 looks unlikely Wednesday, but would allow the pair to break back into
its previous trading range and challenge down trendline resistance from the Jan
high at 0.7410 as well as channel top resistance at 0.7453. Bears need to break
Friday's low at 0.7253 to shift momentum and retest the ytd low at 0.7203.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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