Downtrend In Full Swing *RES 4:........>

AUSSIE TECHS: Downtrend In Full Swing

*RES 4: 0.6827 High Jan 27

*RES 3: 0.6774 High Feb 5 and key near-term resistance

*RES 2: 0.6750 High Feb 12

*RES 1: 0.6736 Trendline resistance drawn off the Jan 2 high

*PRICE: 0.6624 @ 05:23 GMT Feb 20

*SUP 1: 0.6622 Low Feb 20

*SUP 2: 0.6611 1.764 projection of Dec 31 - Jan 8 decline from Jan 16 high

*SUP 3: 0.6560 2.0% 10-dma envelope

*SUP 4: 0.6529 Low Mar 16 2009

The pair sat in a holding pattern for much of February but has now cleanly

broken below, putting the 2020 downtrend back into full swing. Support at both

0.6659 and 0.6638 gave way with little pushback, pressuring downside targets to

0.6611 and 0.6560. To the upside, key resistance is at the 0.6736/74 zone. A

break of this area is required to signal a reversal - but that's looking

increasingly uncertain at present levels.