Fails to Maintain Gains *RES 4:........>

AUSSIE TECHS: Fails to Maintain Gains

*RES 4: 0.7009 High Jul 24

*RES 3: 0.6985 76.4% retracement of Jul 19 - Oct 2 decline

*RES 2: 0.6958 200-DMA

*RES 1: 0.6930 Intraday high

*PRICE: 0.6887 @ 16:17 GMT Oct 31

*SUP 1: 0.6849 Low Oct 30

*SUP 1: 0.6811 Low Oct 28

*SUP 3: 0.6809 Low Oct 25 and key support

*SUP 4: 0.6782/52 Trendline support drawn off Oct 2 low / Low Oct 17

AUDUSD gave up the Asia-Pac gains with relatively little difficulty Thursday.

The key technical development this week has been the breach of resistance at

0.6895, Sep 12 high. This has confirmed a broad double bottom reversal on the

daily frequency. The move higher confirms a M/T bullish reversal and reinforces

the current uptrend that began on Oct 2. The break has opened 0.6958 next. The

current pullback is being seen as a correction, next support lies at 0.6849.