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Bull Flag Formation *RES 4: 0.7009.....>

AUSSIE TECHS
AUSSIE TECHS: Bull Flag Formation
*RES 4: 0.7009 High Jul 24
*RES 3: 0.6985 76.4% retracement of Jul 19 - Oct 2 decline
*RES 2: 0.6949 200-DMA
*RES 1: 0.6930 High Oct 31 and bull trigger
*PRICE: 0.6867 @ 10:44 GMT Nov 8
*SUP 1: 0.6862 Low Nov 7
*SUP 1: 0.6849 Low Oct 30
*SUP 3: 0.6814/09 Trendline support drawn off Oct 2 low / Low Oct 25
*SUP 4: 0.6752 Low Oct 17
AUDUSD is offered thus far today as prices slip. A bullish outlook is maintained
though with a focus on the recent key technical development, the breach of
0.6895, Sep 12 high. This confirmed a broad double bottom pattern and a M/T
bullish reversal. Furthermore, the move has reinforced the current uptrend that
started on Oct 2. Additionally, recent activity appears to be a bull flag,
reinforcing bullish conditions. The focus is on 0.6953. Support is at 0.6849.

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