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Comfortable it its range: *RES 4:......>

AUSSIE TECHS
MNI (London)
AUSSIE TECHS: Comfortable it its range:
*RES 4: 0.6880 50% of Jul 19-Aug 7 sell-off
*RES 3: 0.6822 High Aug 8 and key resistance
*RES 2: 0.6799 High Aug 21
*RES 1: 0.6788 High Aug 26
*PRICE: 0.6758 @ 04:51 GMT Aug 27
*SUP 1: 0.6690 Low Aug 26
*SUP 2: 0.6677 YTD low and key support
*SUP 3: 0.6600 Round number support
*SUP 4: 0.6567 Low Mar 18 2009
AUDUSD posted a solid range Monday, staging a near 1.5% rally from the day's
lows. Activity since Aug 7 has now clearly defined directional parameters at
0.6677 and 0.6822. A break below 0.6677 would confirm a resumption of the
downtrend, opening 0.6600 initially. For bulls, a break of 0.6822, the high of
Aug 8, would signal a trend reversal and open 0.6880 initially. For now, AUDUSD
appears to be comfortable within its range.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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