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Trendline Resistance Intact *RES 4:....>

AUSSIE TECHS
AUSSIE TECHS: Trendline Resistance Intact
*RES 4: 0.6827 High Jan 27
*RES 3: 0.6774 High Feb 5 and key near-term resistance
*RES 2: 0.6750 High Feb 12
*RES 1: 0.6736 Trendline resistance drawn off the Jan 2 high
*PRICE: 0.6724 @ 05:05 GMT Feb 17
*SUP 1: 0.6660 Low Feb 10
*SUP 3: 0.6659 1.50 projection of Dec 31 - Jan 8 decline from Jan 16 high
*SUP 2: 0.6638 1.618 projection of Dec 31 - Jan 8 decline from Jan 16 high
*SUP 4: 0.6611 1.764 projection of Dec 31 - Jan 8 decline from Jan 16 high
The AUDUSD was firmer last week although gains stalled at Wednesday's high. The
outlook remains bearish following this year's decline with price maintaining a
bearish sequence of lower lows and lower highs. While the downtrend remains
intact, scope is seen for a move towards 0.6659 and if breached, 0.6638, both
Fibonacci projections. On the upside, key resistance is at the 0.6736/74 zone. A
break of this area is required to signal a reversal.

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