Bullish trend intact: *RES 3: 0.7091...>

AUSSIE TECHS: Bullish trend intact:

*RES 3: 0.7091 200-dma

*RES 2: 0.7069 High Apr 30

*RES 1: 0.7048 High Jul 4 & High May 7 and key resistance

*PRICE: 0.7013 @ 15:41 GMT July 17

*SUP 1: 0.6987/71 200-hma/Low Jul 12

*SUP 2: 0.6954/51 Low Jul 11 / 50-dma

*SUP 3: 0.6911/6893 Low Jul 10 / Former bear channel resistance

After four consecutive sessions of gains, AUDUSD peaked at 0.7044 yesterday

before drifting back under the 100-dma. The downtrend extended through 0.70 and

brings the Jul 12 low into view. Despite this, AUDUSD continues to display

bullish signals following last week's strong rebound off the Jul 10 low and

subsequent extension. The recovery is significant in that it marked a bullish

reaction off the former channel top drawn off the Apr 17 high and the 61.8%

retracement of the rally between Jun 18-Jul 4. Upside focus remains on the

0.7048 bull trigger where a break would open 0.7069 and 0.7103.