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Off The Lows But Remains Heavy *RES....>

AUSSIE TECHS
AUSSIE TECHS: Off The Lows But Remains Heavy
*RES 4: 0.6326 High Mar 13
*RES 3: 0.6149 High Mar 17
*RES 2: 0.6028 High Mar 18
*RES 1: 0.5864 Intraday high
*PRICE: 0.5818 @ 17:16 GMT Mar 19
*SUP 1: 0.5510 Intraday low
*SUP 2: 0.5403 Low Oct 2002
*SUP 3: 0.5399 Low Sep 2002
*SUP 4: 0.5263 Low Aug 2002
AUDUSD went from bad to worse Wednesday and again in Thursday's Asia session,
hitting a new cycle low down at 0.5510 as all drawn support failed to prop up
the price. That said, the pair has recovered this morning off the low. It
remains heavy though. Momentum measures continue to scream oversold, but traffic
still remains one-way for now. This cements the bearish threat and opens levels
not seen since Q3 2002. Objectives are at 0.5403 and 0.5399.

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