Below 21-DMA To Add Weight To..........>

AUSSIE TECHS: Below 21-DMA To Add Weight To Bearish Case

*RES 4: $0.8081 - Hourly support Sept 8 now resistance

*RES 3: $0.8061 - Hourly resistance Sept 11

*RES 2: $0.8044 - High Sept 13

*RES 1: $0.7996 - Low Sept 12 now resistance

*PRICE: $0.7984 @ 2100GMT

*SUP 1: $0.7961 - Low Sept 6 

*SUP 2: $0.7957 - 21-DMA 

*SUP 3: $0.7920 - Hourly support Aug 31 

*SUP 4: $0.7863 - Low Aug 24

*COMMENTARY: The correction lower from 2017 highs sees the pair flirting with

the daily bull channel base ($0.7992). Bears now look for a close below the

21-DMA to confirm a break of the channel base and below $0.7920 to shift initial

focus to $0.7863-78 where the 55-DMA is located. Daily studies are well placed

for a fresh leg lower. Bulls now need a close above $0.7996 to gain breathing

room and above $0.8081 to reconfirm initial focus on 2017 highs.