Pullback Meets Congested Support.......>

AUSSIE TECHS: Pullback Meets Congested Support From $0.7894-$0.7875

*RES 4: $0.8042/46 Jan 30 low, hourly high Feb 1

*RES 3: $0.8016 Hourly recovery high Feb 2

*RES 2: $0.7987 Feb 1 low, now resistance

*RES 1: $0.7957/60 Jan 23 low, hourly resistance

*PRICE: $0.7946 @1005GMT 

*SUP 1: $0.7891/94 Feb 2 low, 38.2% Fibo of $0.7502-$0.8136

*SUP 2: $0.7885 76.4% Fibo of $0.7808-$0.8136

*SUP 3: $0.7875 Jan 5 high, 2% volatility band

*SUP 4: $0.7808 Jan 9-Jan 10 lows

*COMMENTARY* The fall from last month's $0.8136 high has gathered pace over the

last few days, resulting in a loss of the 8 week rising support line. This puts

immediate pressure back on the downside. The further loss of $0.7957-$0.7937,

now eyes congested support between the 38.2% Fibo level at $0.7894 and the lower

2% volatility band at $0.7875 below. In the interim, $0.7960-$0.7987 provides

the bar to any near term recovery process.