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Consolidates *RES 4: 0.7032 High Dec...>

AUSSIE TECHS
AUSSIE TECHS: Consolidates
*RES 4: 0.7032 High Dec 31 and bull trigger
*RES 3: 0.6995 High Jan 3
*RES 2: 0.6943 High Jan 7
*RES 1: 0.6934 High Jan 16
*PRICE: 0.6897 @ 06:03 GMT Jan 17
*SUP 1: 0.6849 Low Jan 8
*SUP 2: 0.6838 Low Dec 17 and key support
*SUP 3: 0.6823 Trendline support drawn off the Oct 2 low
*SUP 4: 0.6800 Low Dec 10
AUD/USD continues to consolidate. The pair however is still seen likely to
remain vulnerable near-term at least until 0.6943 resistance is cleared, the Jan
7 high. This outlook follows the sell-off that has dominated since Dec 31. Scope
is seen for a move towards 0.6838, the Dec 17 low. We still see a
volatility-based support at 0.6848. If the sell-off this month is after all a
correction, 0.6838-48 would need to remain intact to avoid a deeper sell-off.

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