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

AUSSIE TECHS
AUSSIE TECHS: Pullback Likely A Correction
*RES 4: 0.6622 100-dma
*RES 3: 0.6518 0.764 projection of Mar 19 - 31 rally from Apr 3 low
*RES 2: 0.6492 High Mar 12
*RES 1: 0.6445 High Apr 14
*PRICE: 0.6335 @ 10:47 BST Apr 15
*SUP 1: 0.6313 Low Apr 10
*SUP 2: 0.6214 Mar 31 high and former breakout level
*SUP 3: 0.6076 Low Apr 7
*SUP 4: 0.5980 Low Apr 3 and key near-term support
AUDUSD has found resistance today with weakness in the oil market having an
impact. For now, a pullback in the Aussie is considered corrective. A bullish
price structure has recently been confirmed following the break of 0.6214, Mar
31 high. This confirmed a positive price sequence of higher highs and higher
lows. Furthermore, the pair Monday cleared the 50-dma reinforcing underlying
strength. Initial support is at 0.6313 ahead of 0.6214.

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