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Bear channel underpins: *RES 4:........>

AUSSIE TECHS
AUSSIE TECHS: Bear channel underpins:
*RES 4: 0.7103    High Apr 24
*RES 3: 0.7069    High Apr 30
*RES 2: 0.7032/48 100-dma / High Jul 4 & High May 7
*RES 1: 0.6994    High Jul 8
*PRICE: 0.6978    @ 08:46 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: 0.6845    2% Lower Bollinger Band
AUDUSD encountered strong support at 0.6911 yesterday, just below the former
bear channel resistance-turned-support at 0.6912. 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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