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AUSSIE TECHS: Trendline Support Broken
AUDUSD has fallen over a big figure since last week's failure to close above
0.72 with the cross challenging the up trendline since from the Mar8 low which
comes in at 0.7095. A close below here would open the 38.2% retracement & Mar 29
low at 0.7083/73. Below here lies the April lows of 0.7053 and the March low of
0.7003. To regain the upper hand bulls need to recover the 200-dma at 0.7185 to
open a move towards 0.7226/46 which represents the 76.4% retracement of
0.7295-0.7003 & Feb 6 high.
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