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(M2) Gains Still Considered Corrective


(M2)‌‌ Holding On To This Week’s Gains

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AUSSIE TECHS: Still Above $0.7625, Resistance Now $0.7695-$0.7710
*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: $0.7695/10 Hourly resistance
*PRICE: $0.7666 @1238GMT 
*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* Found support from $0.7625 at the end of last month, slightly below
the preferred $0.7636-$0.7631 levels. Has bounced on the back of some oversold
hourly conditions, most latterly above $0.7690-$0.7698 resistance. Through here
allows a better correction of the losses suffered since the Oct 19 high at
$0.7884, beginning with $0.7724. Meanwhile, support from $0.7665-$0.7655 has
been lost, which will disappoint now and likely put $0.7625 back under pressure.

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