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EURO-AUSSIE TECHS: Below 21-DMA To Target A$1.5495-1.5594
*RES 4: A$1.6061 - Daily Bull channel top
*RES 3: A$1.6040 - 2018 High Mar 20
*RES 2: A$1.6000 - High Mar 21
*RES 1: A$1.5941 - Hourly support Mar 21 now resistance
*PRICE: A$1.5889 @ 2030GMT
*SUP 1: A$1.5828 - Hourly resistance Mar 16 now support
*SUP 2: A$1.5790 - 21-DMA
*SUP 3: A$1.5688 - Low Mar 15
*SUP 4: A$1.5594 - 55-DMA
*COMMENTARY: Despite recent 2018 & 2+yr highs the bull channel top capped with
the sell-off leaving the pair looking heavy. Resistance layers accumulating on
the hourlies is adding weight to the case for a correction initially targeting
the 21-DMA. Bears now need a close below the 21-DMA to shift focus back to
A$1.5495-1.5594 where 55 & 100-DMAs and the bull channel base off 2018 lows are
found. Bulls now need a close above $1.5941 to gain breathing room.