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$0.7411 Break Required Before Any......>

AUSSIE TECHS
AUSSIE TECHS: $0.7411 Break Required Before Any Real Recovery Likely
*RES 4: $0.7454/58 1% vol, Jun 22 high, 38.2% Fibo retrace 
*RES 3: $0.7423 Jun 26 high
*RES 2: $0.7407/11 Jun 27, Jun 29 highs
*RES 1: $0.7385/90 Hourly resistance
*PRICE: $0.7388 @0842GMT 
*SUP 1: $0.7306/10 1% volatility band, Jul 2 low
*SUP 2: $0.7276 1.618 swing of $0.7334-$0.7457
*SUP 3: $0.7269 1.618 swing of $0.7323-$0.7411
*SUP 4: $0.7248 1.618 swing of $0.7412-$0.7677
*COMMENTARY* $0.7347-$0.7345 support gave way last week and the longer term
61.8% Fibo retrace level at $0.7327 was  breached yesterday, as we so far hold
above the lower 1% volatility band at $0.7306. This being the protection against
a further $0.7276-$0.7248 fall, a trio of swing targets, ahead of the 6 month
bear channel base and lower 2% band at $0.7220-$0.7225. Resistance moves to
$0.7385-$0.7390, ahead last Friday's $0.7411 high. 

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