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

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.