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

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.