Pullback Most Likely A Correction......>

AUSSIE TECHS: Pullback Most Likely A Correction

*RES 4: 0.7009 High Jul 24

*RES 3: 0.6985 76.4% retracement of Jul 19 - Oct 2 decline

*RES 2: 0.6947 200-DMA

*RES 1: 0.6930 High Oct 31 and bull trigger

*PRICE: 0.6864 @ 10:44GMT Nov 11

*SUP 1: 0.6848 Low Nov 8 and intraday low

*SUP 1: 0.6819/09 Trendline support drawn off Oct 2 low / Low Oct 25

*SUP 3: 0.6752 Low Oct 17

*SUP 4: 0.6724 Low Oct 16

AUDUSD ended last week on a softer note. Despite this, a bullish outlook is

maintained and the pullback in prices are being viewed as a correction.

Attention remains on the recent key technical development, the breach on Oct 30

of 0.6895, Sep 12 high. This confirmed a broad double bottom pattern and a

medium-term reversal plus reinforced the current uptrend that started on Oct 2.

Attention is on gains to 0.6947 and 0.7009. Support is at 0.6849 and 0.6814.