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AUSSIE TECHS: Wrapped Around 0.7050
AUDUSD continued to trade either side of the 0.7050 level as the pair looks for
direction. Topside focus remains on a break of the 0.71 level & 55-dma at
0.7105. A close above is needed to suggest a broader recovery, opening the key
200-dma at 0.7174 ahead of the April 17 high at 0.7206. Bears look for a close
below the 0.7000 level, with a break of the April 25 low at 0.6988 shifting the
focus back to the Jan lows.