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

AUSSIE TECHS: Bearish Threat Still Present

*RES 4: 0.6934 High Jan 16 and key near-term level

*RES 3: 0.6879 High Jan 23

*RES 2: 0.6839 Former trendline support

*RES 1: 0.6800 Low Dec 10 and former breakout level

*PRICE: 0.6770 @ 06:04 GMT Jan 29

*SUP 1: 0.6737 Low Jan 28

*SUP 2: 0.6724 Low Oct 16

*SUP 3: 0.6710 Low Oct 10

*SUP 4: 0.6671 Low Oct 2 and primary support

AUDUSD found support at yesterday's 0.6737 low although this is likely a

correction. Bearish conditions remain in place following the recent slide and

break of trendline support drawn off the Oct 2 low. The move lower confirmed a

resumption of January's bearish theme. 0.6800, the Dec 10 low and 0.6754, Nov 29

low have been cleared. The focus is on 0.6724 next, Oct 16 low. Initial

resistance is at 0.6800 ahead of 0.6839, the former trendline.