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Recovery could be a headfake: *RES 4:........>

AUSSIE
AUSSIE: Recovery could be a headfake:
*RES 4: 0.7022 High Jun 7 and key resistance
*RES 3: 0.6994 50-DMA
*RES 2: 0.6966 High Jun 11
*RES 1: 0.6924 20-day EMA
*PRICE: 0.6873 @ 04:46 GMT June 19
*SUP 1: 0.6832 Low Jun 18
*SUP 2: 0.6800 Round number support
*SUP 3: 0.6754 Bear channel base
*SUP 4: 0.6744 Low Jan 3
AUDUSD remained under pressure for much of Tuesday, hitting lowest levels since
the January 3rd flash crash, before recovering modestly to trade near the week's
open. Recovery may not last, however, the recent breach of support at 0.6864
confirms a resumption of the downtrend that has opened 0.6800. This year's low
of 0.6745 is now also within reach. Momentum studies remain bearish for now,
reinforcing underlying downtrend conditions. Look for Aussie weakness to extend.

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