(U9) Tapping on near-term top...>

AUSSIE 3-YEAR TECHS: (U9) Tapping on near-term top

*RES 3: 99.343 - 1st Pivot Resistance (98.520-99.155)

*RES 2: 99.146 - 3% Upper Bollinger Band

*RES 1: 99.123/155 - 2% Bollinger Band & All Time High

*PRICE: 99.105 @ 13:20 GMT Jul 22

*SUP 1: 99.005 - 23.6% Fib Retracement (98.520 - 99.155)

*SUP 2: 99.004 - 50-dma

*SUP 3: 98.809 - 100-dma

Markets started the week relatively well but had a hard time breaking north of

last week's highs at 98.115, which become near-term resistance. To the downside,

lower 2% Bollinger Band as decent support (after being tested a few times) as

markets remain in sell-rallies mode, leaving the recent rally in question until

prices move north of 99.1150. Below the Bollinger band support, bears eye

99.005, the 23.6% Fib retracement. Any fall through here opens the 50-dma, which

would sharply weaken the medium-term outlook after looking so positive just a

few weeks ago.