Bounces Into the Close *RES 3:.........>

AUSSIE TECHS: Bounces Into the Close

*RES 3: 0.6995 High Jan 3

*RES 2: 0.6943 High Jan 7

*RES 1: 0.6920 High Jan 13

*PRICE: 0.6910 @ 16:46 GMT Jan 15

*SUP 1: 0.6849 Low Jan 8

*SUP 2: 0.6838 Low Dec 17 and key support

*SUP 3: 0.6819 Trendline support drawn off the Oct 2 low

After coming under pressure for much of the European morning, AUD/USD bounced

into the close on suspected buying around the fix, but remains vulnerable

near-term. Last week, price breached 0.6904, Dec 25 low to further undermine the

recent bullish outlook. This opens 0.6838, the Dec 17 low. Note, there is a

volatility-based support at the 0.6848 level. If the sell-off so far this month

is a correction, the 0.6838-48 zone would need to remain intact to avoid a

deeper sell-off. 0.6943 is the initial key resistance and needs to be cleared to

reinstate a bullish focus.