Recovery Will Need A $0.7700 Break.....>

AUSSIE TECHS: Recovery Will Need A $0.7700 Break To Be Of Consequence

*RES 4: $0.7770 Oct 24 low, now resistance

*RES 3: $0.7754 50% Fibo of $0.7884-$0.7625

*RES 2: $0.7724/30 38.2% of $0.7884-$0.7625, Nov 3 high

*RES 1: $0.7693/01 Intraday, Nov 7 highs

*PRICE: $0.7672 @1020GMT 

*SUP 1: $0.7625/31 Oct 27 low, 1.618 swing of $0.7733-$0.7898

*SUP 2: $0.7571 Jul 5 low

*SUP 3: $0.7560 1.618 swing of $0.7625-$0.7730

*SUP 4: $0.7535 Jun 22 low

*COMMENTARY* Another test towards $0.7625 support on Tuesday, before recovering,

aided by some oversold hourly conditions. To be of any substance however, then

rallies must firstly make it back through $0.7685 and then more importantly

Tuesday's $0.7701 high. While capped here, then the near term bias will remain

for lower and eventually another $0.7625 challenge. Beneath which the lower 1%

volatility band at $0.7599 then protects $0.7571-$0.7560.