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AUSSIE TECHS: Positive Outlook Intact
*RES 3: 0.6895 High Sep 12 and potential double bottom midpoint
*RES 2: 0.6883 High Oct 22
*RES 1: 0.6872 Intraday high
*PRICE: 0.6864 @ 16:24 GMT Oct 29
*SUP 1: 0.6809 Low Oct 25
*SUP 2: 0.6772/52 Trendline support drawn off Oct 2 low / Low Oct 17
*SUP 3: 0.6724 Low Oct 16
The pair was on the front foot for much of the European and US session,
narrowing the gap with mid-October highs at 0.6883. Recent gains are encouraging
for bulls with a firm S/T support defined at Friday's 0.6809 low. A move below
this level is needed to dent the recent bounce and expose the pair to a deeper
correction towards the trendline support drawn off the Oct 2 low, at 0.6772. For
now, the focus is again on key resistance at 0.6895, Sep 12 high and the
midpoint of a potential broad double bottom.