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AUSSIE 3-YEAR TECHS: (H0) No Breakout Just Yet
*RES 3: 99.300 - High Dec 17
*RES 2: 99.285 - High Jan 8
*RES 1: 99.258 - 100-dma
*PRICE: 99.240 @ 16:16 GMT Jan 16
*SUP 1: 99.055 - Low Dec 31
*SUP 2: 99.041 - 1.500 projection of Dec 10 - Dec 13 decline from Dec 17 high
*SUP 3: 99.018 - 1.764 projection of Dec 10 - Dec 13 decline from Dec 17 high
Markets inched slightly higher again Thursday, but there's no sign of a bullish
breakout just yet, with prices capped ahead of the 99.258 100-dma. The stable
end last Friday fed through the first few sessions of this week, supporting the
argument that the previous break above the 100-dma was a false dawn, keeping the
near-term outlook modestly weak. To counter this, bulls need to rise and close
through the 100-dma initially. To the downside, bears eye a move through 99.041
and 99.018, both Fibonacci projection levels.