1% Volatility Band Protects Against....>

AUSSIE TECHS: 1% Volatility Band Protects Against $0.7800-$0.7786 Fall

*RES 4: $0.7960 Congestion area Jul 31-Aug 4

*RES 3: $0.7937/43 Jul 28 low, Aug 8 high

*RES 2: $0.7920 Aug 14 high

*RES 1: $0.7877/85 Intraday high, hourly resistance

*PRICE: $0.7838 @1208GMT 

*SUP 1: $0.7825 1% volatility band

*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: $0.7738/43 61.8% Fibo of $0.7535-$0.8066, 2% vol band

*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 $0.7743 today. Resistance from

between $0.7877-$0.7920 and will need to sustain gains above the latter to find

some respite and a higher recovery.