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Consolidation Mode But Remains Bearish


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Bears release pressure for now: *RES...>

AUSSIE TECHS: Bears release pressure for now:
*RES 4: 0.6895 High Sep 12 and bull trigger
*RES 3: 0.6870 High Sep 17
*RES 2: 0.6831 High Sep 19
*RES 1: 0.6806/09 High Sep 24 / High Sep 20
*PRICE: 0.6763 @ 16:02 GMT Sep 27
*SUP 1: 0.6739 Low Sep 25
*SUP 2: 0.6737 76.4% retracement of Sep 3 - Sep 12 rally
*SUP 3: 0.6688 Low Sep 3
*SUP 4: 0.6677 Early August / cycle lows
AUDUSD remains vulnerable following the sharp sell-off Wednesday although the
pressure moderated slightly on Thursday and Friday. Nonetheless, the crack of
key support leaves bears eyeing the late August lows and the YTD low of 0.6677.
The immediate focus is on 0.6737, 76.4% retracement where a break would open
further downside. Resistance is at 0.6806/09. A break, would be seen as an
important bullish development potentially reversing the current decline.
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