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Bearish Threat Remains Present


Through Last Week’s Highs


Challenging The 20-Day EMA


(M2) Key Support Remains Intact

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AUSSIE TECHS: $0.7838 & $0.7949 Levels Key
*RES 4: $0.7949 - High Aug 7 
*RES 3: $0.7919 - Hourly support Aug 8 now resistance 
*RES 2: $0.7876 - Hourly resistance Aug 11 
*RES 1: $0.7856 - Low Aug 10 now resistance
*PRICE: $0.7846 @ 0210GMT
*SUP 1: $0.7838 - High July 17 now support 
*SUP 2: $0.7781 - Low July 17 
*SUP 3: $0.7749 - Hourly support July 14a 
*SUP 4: $0.7706 - 55-DMA
*COMMENTARY: The pair remains heavy with immediate bearish focus on the $0.7838
support. Overall a close below $0.7838 is needed to shift focus to
$0.7749-0.7781. Bulls now look for a close above $0.7876 to gain breathing room
and above $0.7949 to hint at a move back to $0.8044-65 with above $0.7998 needed
to confirm. Daily studies have room to move before O/S is an issue but the
Bollinger base ($0.7819) is now a concern.

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