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AUSSIE TECHS: Off The Lows But Still Heavy
*RES 4: 0.6326 High Mar 13
*RES 3: 0.6149 High Mar 17
*RES 2: 0.6028 High Mar 18 and key near-term resistance
*RES 1: 0.5985 Intraday high
*PRICE: 0.5802 @ 16:37 GMT Mar 20
*SUP 1: 0.5510 Thursday and multi-decade low
*SUP 2: 0.5403 Low Oct 2002
*SUP 3: 0.5399 Low Sep 2002
*SUP 4: 0.5263 Low Aug 2002
AUDUSD traded sharply lower again Thursday but has since found support following
a recovery off 0.5510. Current gains are considered corrective at this stage
with bearish trend conditions still intact. The week's continued sell-off is
likely to weigh on sentiment and potential is for weakness towards 0.5403/5399
next. On the upside, initial firm resistance is seen at 0.6028, the Mar 18 high.