Bearish Threat Still Present *RES 4:...>

AUSSIE TECHS: Bearish Threat Still Present

*RES 4: 0.7032 High Dec 31 and bull trigger

*RES 3: 0.6995 High Jan 3

*RES 2: 0.6943 High Jan 7

*RES 1: 0.6934 High Jan 16

*PRICE: 0.6886 @ 05:51 GMT Jan 20

*SUP 1: 0.6849 Low Jan 8 and key support

*SUP 2: 0.6838 Low Dec 17 and a volatility based support

*SUP 3: 0.6825 Trendline support drawn off the Oct 2 low

*SUP 4: 0.6800 Low Dec 10

AUD/USD was offered Friday. The pair is seen likely to remain vulnerable

near-term at least until 0.6943 resistance is cleared, the Jan 7 high. A bearish

outlook follows the sell-off that has dominated since Dec 31. Scope is seen for

a move towards 0.6838, the Dec 17 low. We still see a volatility-based support

around 0.6848. If the sell-off this month is a correction, 0.6838-48 would need

to remain intact to avoid a deeper sell-off. Trendline support is at 0.6825.