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Upside Focus *RES 4: 0.7009 High Jul...>

AUSSIE TECHS
AUSSIE TECHS: Upside Focus
*RES 4: 0.7009 High Jul 24
*RES 3: 0.6985 76.4% retracement of Jul 19 - Oct 2 decline
*RES 2: 0.6957 200-DMA
*RES 1: 0.6930 High Oct 31
*PRICE: 0.6907 @ 10:36 GMT Nov 4
*SUP 1: 0.6883 Low Oct 31
*SUP 1: 0.6849 Low Oct 30
*SUP 3: 0.6809 Low Oct 25 and key support
*SUP 4: 0.6793 Trendline support drawn off Oct 2 low
AUDUSD maintains a bullish outlook following last weeks gains. The recent key
technical development has been the breach of 0.6895, Sep 12 high. This confirmed
a broad double bottom reversal pattern on the daily chart. The break higher also
confirms a medium-term bullish reversal and furthermore, reinforces the current
uptrend that started on Oct 2. This has opened 0.6955 next, the 200-DMA. Support
lies at 0.6849.

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