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Downtrend Remains Intact *RES 4:.......>

AUSSIE TECHS
AUSSIE TECHS: Downtrend Remains Intact
*RES 4: 0.6613 High Mar 10
*RES 3: 0.6536 20-day EMA
*RES 2: 0.6492 High Mar 12
*RES 1: 0.6326 High Mar 13
*PRICE: 0.6129 @ 17:30 GMT Mar 16
*SUP 1: 0.6079 Low Mar 16
*SUP 2: 0.6053 2.382 projection of Jul - Oct 2019 decline from Dec 31 high
*SUP 3: 0.6005 2.250 projection of Jul - Oct 2019 decline from Dec 31 high
*SUP 4: 0.5956 2.618projection of Jul - Oct 2019 decline from Dec 31 high
Volatile price action early last week saw AUDUSD trade to a low of 0.6313 Monday
before rebounding sharply. The move lower highlighted the continued existence of
a bearish threat and this was again confirmed Thursday and Friday as the pair
traded lower. The outlook remains bearish and the focus is on weakness towards
0.6053 next, a Fibonacci projection. On the upside, Friday's intraday high of
0.6326 marks initial resistance.

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