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Reverses Asia Gains *RES 4: 0.7009.....>

AUSSIE TECHS
AUSSIE TECHS: Reverses Asia Gains
*RES 4: 0.7009 High Jul 24
*RES 3: 0.6985 76.4% retracement of Jul 19 - Oct 2 decline
*RES 2: 0.6958 200-DMA
*RES 1: 0.6930 Intraday high
*PRICE: 0.6895 @ 10:06 GMT Oct 31
*SUP 1: 0.6888 Intraday low
*SUP 2: 0.6849 Low Oct 30
*SUP 3: 0.6809 Low Oct 25 and key support
*SUP 4: 0.6782/52 Trendline support drawn off Oct 2 low / Low Oct 17
AUDUSD has given back gains achieved in the Asia session. The key technical
development this week has been the breach of resistance at 0.6895, Sep 12 high.
This has confirmed a broad double bottom reversal on the daily frequency. The
move higher confirms a M/T bullish reversal and reinforces the current uptrend
that began on Oct 2. The break has opened 0.6958 next. The current pullback is
being seen as a correction, next support lies at 0.6849.

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