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EURO-AUSSIE TECHS: Bears Need Close Below Bull Channel Base
*RES 4: A$1.6056 - Hourly support Apr 26 now resistance
*RES 3: A$1.5967 - High May 9
*RES 2: A$1.5887 - High May 15
*RES 1: A$1.5825 - High June 27
*PRICE: A$1.5737 @ 2130GMT
*SUP 1: A$1.5718 - Daily Bull channel base off June 6 low
*SUP 2: A$1.5650 - Low June 22
*SUP 3: A$1.5615 - Low June 20
*SUP 4: A$1.5541 - Low June 18
*COMMENTARY: The break of A$1.5771 and the 100-DMA (A$1.5772) has so far lacked
follow through with O/B daily studies now weighing. In saying that, bears now
look for a close below the bull channel base to confirm a false break higher and
return initial focus to A$1.5615-50. While the channel base supports bulls
remain focused on A$1.5887-1.5967 but now look for a close above A$1.5825 to add
support to their case.