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Bear channel holds: *RES 4: 0.7103.....>

AUSSIE TECHS
AUSSIE TECHS: Bear channel holds:
*RES 4: 0.7103 High Apr 24
*RES 3: 0.7069 High Apr 30
*RES 2: 0.7025/48 100-dma / High Jul 4 & High May 7
*RES 1: 0.6994 High Jul 8
*PRICE: 0.6978 @ 05:16 GMT July 11
*SUP 1: 0.6954 Intraday low
*SUP 2: 0.6912/11 Former bear channel resistance / Low Jul 10
*SUP 3: 0.6879 Low Jun 20
*SUP 4: 0.6848 2% Lower Bollinger Band
AUDUSD found strong support yesterday at 0.6911 just below the former bear
channel resistance-turned-support at 0.6917. The rebound off the former channel
top signals an end to the recent corrective pullback with bulls taking centre
stage once again. The next resistance is 0.6994, the high of Jul 8 where a break
would open the key resistance and bull trigger at 0.7048, the high of Jul 4. On
the downside, key support has been defined at 0.6911.

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