• AUD/USD winches higher to 0.6956, with risk-on fuelling gains

• But even after escaping Bollinger downtrend channel, bulls face a test

• Looming 21 DMA at 0.6975 may attract some profit-taking offers

• A hard shove will be needed to break that key technical resistance

• If it cracks, Bollinger uptrend channel at 0.7034 will attract bulls

• ASX ebbs -0.1% while Asia FX markets eye USD/JPY nervously
AUD


(Ewen Chew is a Reuters market analyst. The views expressed are his own.)