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AUSSIE TECHS: Correction Still In Play
*RES 3: 0.6895 High Sep 12 and key resistance
*RES 2: 0.6883 High Oct 22
*RES 1: 0.6858 High Oct 24
*PRICE: 0.6838 @ 16:36 GMT Oct 28
*SUP 1: 0.6809 Low Oct 25
*SUP 2: 0.6766/52 Trendline support drawn off Oct 2 low / Low Oct 17
*SUP 3: 0.6724 Low Oct 16
The pair found some support Monday, but the modest recovery has so fair failed
to break AUDUSD out of corrective mode. A deeper pullback would open S/T
trendline support drawn off the Oct 2 low that intersects at 0.6766. From a
broader perspective, the trend outlook remains bullish with the focus on key
resistance at 0.6895, Sep 12 high. A break here would represent an important
technical development and confirm a potential broad double bottom reversal