Correction Gathers Pace After..........>

AUSSIE TECHS: Correction Gathers Pace After $0.7957-$0.7937 Gives Way

*RES 4: $0.8042/46 Jan 30 low, hourly high Feb 1

*RES 3: $0.8016 Intraday recovery high

*RES 2: $0.7987 Feb 1 low, now resistance

*RES 1: $0.7970/80 Hourly resistance

*PRICE: $0.7936 @1531GMT 

*SUP 1: $0.7894 38.2% Fibo of $0.7502-$0.8136

*SUP 2: $0.7882/85 2% vol band, 76.4% of $0.7808-$0.8136

*SUP 3: $0.7875 Jan 5 high, now support

*SUP 4: $0.7808 Jan 9-Jan 10 lows

*COMMENTARY* The fall from last month's $0.8136 high has gathered pace over the

last couple of days, resulting in a loss of the 8 week rising support line, at

$0.8041 by time today. This puts immediate pressure back on the downside. The

further loss of $0.7957-$0.7937 today, now eyes Fibo support at $0.7894 and the

lower 2% volatility band below. In the interim, $0.7970-$0.7987 provides the bar

to any near term recovery process.