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AUSSIE TECHS: Correction Or Reversal?:
*RES 4: 0.6831 High Sep 19
*RES 3: 0.6806/09 High Sep 24 / High Sep 20
*RES 2: 0.6781 Sep 26 high and key resistance
*RES 1: 0.6776 Weekly high
*PRICE: 0.6740 @ 08:25 GMT Oct 4
*SUP 1: 0.6702 Low Oct 3
*SUP 2: 0.6671 Low Oct 2
*SUP 3: 0.6645 0.618 projection of Jul 19 - Aug 7 decline from Sep 12 high
*SUP 4: 0.6616 2.0% 10-dma envelope
AUDUSD was firmer Friday, extending the recovery off last weeks low of 0.6671.
Attention has shifted to resistance at 0.6781 following last weeks inability to
convincingly break the area of support between 0.6690/83, previous lows in Sep
and Aug that resulted in the recent bounce. A break of 0.6781 would open
0.6806/09 and reinforce bullish conditions. On the downside, a failure ahead of
0.6781 and a break of 0.6671 would reinstate a bearish theme.