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Bullish Outlook Intact *RES 4:.........>

AUSSIE TECHS
AUSSIE TECHS: Bullish Outlook Intact
*RES 4: 0.7009 High Jul 24
*RES 3: 0.6985 76.4% retracement of Jul 19 - Oct 2 decline
*RES 2: 0.6957 200-DMA
*RES 1: 0.6930 High Oct 31
*PRICE: 0.6904 @ 06:02 GMT Nov 1
*SUP 1: 0.6849 Low Oct 30
*SUP 1: 0.6809 Low Oct 25 and key support
*SUP 3: 0.6788 Trendline support drawn off Oct 2 low
*SUP 4: 0.6752 Low Oct 17
AUDUSD closed down on the day, failing to hold onto early gains. Despite this,
the outlook remains bullish. The key technical development this week has been
the breach of 0.6895, Sep 12 high. This confirmed a broad double bottom reversal
pattern. The break confirms a medium-term bullish reversal and reinforces the
current uptrend that began on Oct 2. This has opened 0.6958 next. Further gains
are favoured, support lies at 0.6849.

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