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Approaches YTD low: *RES 4: 0.6880.....>

AUSSIE TECHS
AUSSIE TECHS: Approaches YTD low:
*RES 4: 0.6880 50% of Jul 19-Aug 7 sell-off
*RES 3: 0.6822 High Aug 8 and key resistance
*RES 2: 0.6799 High Aug 21
*RES 1: 0.6750 High Aug 26
*PRICE: 0.6729 @ 05:29 GMT Aug 26
*SUP 1: 0.6690 Intraday low
*SUP 2: 0.6677 YTD low and key support
*SUP 3: 0.6600 Round number support
*SUP 4: 0.6567 Low Mar 18 2009
AUDUSD has traded lower overnight, to a low of 0.6690. This brings into focus
the 0.6677 low from Aug 7 where a break would confirm a resumption of the
downtrend. This would open 0.6600 initially. Recent activity has defined a key
resistance at 0.6822, the high of Aug 8. A break of this level is required
signal a reversal. Until then, the downtrend dominates and further weakness is
likely.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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