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Key support for today at 0.6941:.......>

AUSSIE TECHS
AUSSIE TECHS: Key support for today at 0.6941:
*RES 4: 0.7099 200-dma
*RES 3: 0.7069 High Apr 30
*RES 2: 0.7048 High May 7
*RES 1: 0.7034/36 100-dma, cloud top & High Jul 1
*PRICE: 0.6997 @ 04:50 GMT July 3
*SUP 1: 0.6956/55 Low Jul 1 / 50-DMA
*SUP 2: 0.6942 Low Jun 25
*SUP 3: 0.6941 Former bear channel resistance now support
*SUP 4: 0.6926 Low Jun 24
Monday's sharp sell-off in AUDUSD resulted in the formation of a bearish
engulfing candle. Whether this leads to a more significant reversal remains to
be seen. Technical conditions are bullish following last weeks bear channel
breakout. Support now provided by the former channel top is at 0.6941 today and
represents an important level. If this support holds, and the pair moves back
above Monday's high of 0.7036 high, a bearish reversal will have been averted.

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