Tests Trendline Support *RES 4:........>

AUSSIE TECHS: Tests Trendline Support

*RES 4: 0.6995 High Jan 3

*RES 3: 0.6943 High Jan 7

*RES 2: 0.6934 High Jan 16 and key near-term level

*RES 1: 0.6889 High Jan 20

*PRICE: 0.6843 @ 05:58 GMT Jan 22

*SUP 1: 0.6829/27 Trendline support drawn off the Oct 2 low / Intraday low

*SUP 2: 0.6820 76.4% retracement of the Nov 29 - Dec 31 rally

*SUP 3: 0.6800 Low Dec 10

*SUP 4: 0.6754 Low Nov 29

AUD/USD traded lower overnight testing its key trendline support at 0.6829. The

trendline is drawn off the Oct 2 low. A clear break would further reinforce

bearish conditions that have dominated this month and pave the way for a move

towards 0.6800, Dec 10 low and potentially towards the Nov 29 low 0.6754. For

bulls, firstly the trendline needs to hold and secondly price needs to return

above 0.6889 minimally to ease the bearish threat.