Pullback Likely A Correction *RES 4:...>

AUSSIE TECHS: Pullback Likely A Correction

*RES 4: 0.7103 High Apr 24

*RES 3: 0.7082 High Jul 19 and key resistance

*RES 2: 0.7032 High Dec 31 and bull trigger

*RES 1: 0.6995 High Jan 3

*PRICE: 0.6954 @ 10:43 GMT Jan 6

*SUP 1: 0.6930 Low Jan 3 and trendline drawn off the Dec 2 low

*SUP 2: 0.6904 Low Dec 25

*SUP 3: 0.6883 Low Dec 20

*SUP 4: 0.6838 Low Dec 17 and key support

AUDUSD downside pressure has eased slightly. The recent move lower is likely a

correction with the broader outlook remaining bullish. Strong gains over

December reinforced the bullish theme. The rally last December cleared the

former key resistance at 0.6939, Dec 13 high to confirm a resumption of the

uptrend and also reinforce what appears to be a broader base since August.

Potential is seen for a climb towards 0.7082. Support below 0.6930 is at 0.6904.