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AUSSIE TECHS
AUSSIE TECHS: Downtrend Resuming?
*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: 0.6673 @ 17:01 GMT Feb 19
*SUP 1: 0.6660 Low Feb 10
*SUP 3: 0.6659 1.50 projection of Dec 31 - Jan 8 decline from Jan 16 high
*SUP 2: 0.6638 1.618 projection of Dec 31 - Jan 8 decline from Jan 16 high
*SUP 4: 0.6611 1.764 projection of Dec 31 - Jan 8 decline from Jan 16 high
Having traded firmer last week, AUDUSD turned lower Tuesday in the first sign
that the 2020 downtrend has resumed. The outlook remains bearish and this case
will strengthen should lower lows be printed going forward. Scope is seen for a
move towards 0.6659 and if breached, 0.6638, both Fibonacci projections. On the
upside, key resistance is at the 0.6736/74 zone. A break of this area is
required to signal a reversal.

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