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$0.7970 Again Important, This Time.....>

AUSSIE TECHS
AUSSIE TECHS: $0.7970 Again Important, This Time As Support
*RES 4: $0.8165/67 May 2015 high, 50% of $0.9507-$0.6827
*RES 3: $0.8080 2% volatility band
*RES 2: $0.8060/66 1.618 swing $0.7990-$0.7877, intraday high
*RES 1: $0.8040/50 Hourly resistance
*PRICE: $0.7999 @1256GMT
*SUP 1: $0.7970/71 Hourly support, Jul 25 high
*SUP 2: $0.7926 Initial rally high Jul 26, now support
*SUP 3: $0.7875/78 Jul 21, Jul 26 lows
*SUP 4: $0.7843 1% volatility band
*COMMENTARY* Break above $0.7970 has seen a sharp rally to $0.8066, just above
the swing target at $0.8060. Heavily overbought in the near term as a result and
attention once again switches to $0.7970 but this time for support. Loss would
caution now and set up a potential drop back towards $0.7926-$0.7875. A close
around $0.7993 would set up a bearish 'Gravestone Doji'. Above $0.8066 and the
2% volatility band at $0.8080 prefaces a further $0.8165-67 rise.

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