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AUSSIE TECHS: Bulls Need Close Above Bear Channel Top
*RES 4: $0.7654 - High Dec 5
*RES 3: $0.7607 - Daily Bear channel top
*RES 2: $0.7598 - Hourly support Dec 5 now resistance
*RES 1: $0.7576 - 21-DMA
*PRICE: $0.7571 @ 0230GMT
*SUP 1: $0.7537 - Hourly resistance Dec 12 now support
*SUP 2: $0.7500 - Low Dec 8
*SUP 3: $0.7474 - LT Bull channel base (Jan 20 2016 low)
*SUP 4: $0.7410 - Low June 5
*COMMENTARY: Having closed below $0.7519 last week confirmed immediate bearish
focus on the LT bull channel base. A close below the channel base sees bears
targeting $0.7326-65 where the MT bear channel base is noted. In saying that,
the 21-DMA is now capping. Overall bulls still need a close above the bear
channel top to shift initial focus back to $0.7653-0.7768 where 55 ($0.7686) &
200 ($0.7689) DMAs are situated.