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This week's big technical..............>

AUSSIE TECHS
AUSSIE TECHS: This week's big technical development has been in AUDUSD where a
double bottom reversal pattern was confirmed yesterday on the break of
resistance at 0.6895, Sep 12 high. The move higher confirms a medium-term
bullish reversal in sentiment and reinforces the current uptrend that began on
Oct 2. Patterns allow technical analysts to calculate price targets, the double
bottom suggest scope for AUDUSD to trade to 0.7110/20 0ver the medium-term.
Support for now lies at 0.6809. If oil markets can recover, the equity space
remains bullish and the USD weakens, this should all bode well for the Aussie.

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