Testing Trendline Resistance *RES 4:...>

AUSSIE TECHS: Testing Trendline Resistance

*RES 4: 0.6750 High Feb 12

*RES 3: 0.6776/95 50-dma / High Feb 20

*RES 2: 0.6662 38.2% Jan - Feb decline

*RES 1: 0.6633/45 Trendline resistance drawn off the Jan 2 high / High Mar 3

*PRICE: 0.6628 @ 06:05 GMT Mar 5

*SUP 1: 0.6510 Low Mar 3

*SUP 2: 0.6434 Low Feb 28 and bear trigger

*SUP 3: 0.6422 1.382 projection of Jan 16 - Feb 4 decline from Feb 5 high

*SUP 4: 0.6392 1.50 projection of Jan 16 - Feb 4 decline from Feb 5 high

AUDUSD is well off Friday's lows but still has a key hurdle to clear before a

base is confirmed. Price action is trading at an important trendline resistance

drawn off the Jan 1 high. The line intersects at 0.6633. A break of the

trendline would improve the outlook for the Aussie and also pave the way for a

climb towards 0.6695. On the downside, initial support lies at 0.6510. The key

support though is at 0.6434, the Feb 28 low. A break would resume the downtrend.