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AUSSIE TECHS: 1% Volatility Band Protects Against $0.7800-$0.7786 Fall
*RES 4: $0.7980 Aug 4 high
*RES 3: $0.7960 Congestion area Jul 31-Aug 4
*RES 2: $0.7937/43 Jul 28 low, Aug 8 high
*RES 1: $0.7917/20 Hourly high Aug 8, intraday high
*PRICE: $0.7870 @1214GMT
*SUP 1: $0.7835/39 1% volatility band, Aug 11 low
*SUP 2: $0.7800 50% Fibo of $0.7535-$0.8066
*SUP 3: $0.7786/87 Jul 18,17 lows, 38.2% of $0.7333-$0.8066
*SUP 4: $0.7738 61.8% Fibo of $0.7535-$0.8066
*COMMENTARY* Support from around the lower 1% volatility band still seen as the
near term protection against a deeper fall, which would be aimed initially at
the 50% Fibo retrace level at $0.7800 and more importantly the $0.7786-87
region, the lower 2% volatility band now at $0.7756 today. Resistance from
between $0.7917-$0.7920 and will need to sustain gains above the latter to find
some respite and a higher recovery.