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Bear Flag *RES 4: 0.6935 200-DMA.......>

AUSSIE TECHS
AUSSIE TECHS: Bear Flag
*RES 4: 0.6935 200-DMA
*RES 3: 0.6930 High Oct 31 and bull trigger
*RES 2: 0.6906 High Nov 8
*RES 1: 0.6841/62 High Nov 14 / Former trendline support
*PRICE: 0.6793 @ 17:00 GMT Nov 21
*SUP 1: 0.6770 61.8% of Oct 2 - Oct 31 rally / Intraday low
*SUP 1: 0.6752 Low Oct 17
*SUP 3: 0.6732 76.4% retracement of Oct 2 - Oct 31 rally
*SUP 4: 0.6724 Low Oct 16
A short-term downside risk in AUDUSD remains following last weeks break of
trendline support, drawn off the Oct 2 low. The breach represents a S/T bearish
development with momentum studies pointing south. Furthermore, recent price
action is also taking on the appearance of a bear flag formation. 0.6770 has
been achieved, 61.8% of Oct 2 - Oct 31 rally. The 76.4% level is at 0.6732.
Resistance at 0.6841 needs to be cleared to offset the bearish threat.

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