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

AUSSIE TECHS: Watching Trendline Support
*RES 4: 0.6985 76.4% retracement of Jul 19 - Oct 2 decline
*RES 3: 0.6955 High Jul 26
*RES 2: 0.6939 High Dec 13 and key resistance
*RES 1: 0.6898 High Dec 16
*PRICE: 0.6850 @ 05:56 GMT Dec 18
*SUP 1: 0.6840/38 Trendline support drawn off the Dec 2 low / Low Dec 17
*SUP 2: 0.6800 Low Dec 10
*SUP 3: 0.6754/52 Low Nov 29 / Low Oct 17 and key support
*SUP 4: 0.6724 Low Oct 16
AUDUSD extended its rally last week but did find resistance at the 0.6939 high
on Dec 13 and continues to retrace. Last week's gains resulted in a test above
the key resistance of 0.6930, Oct 31 high, a bullish development. Despite
pulling back off the recent high, bullish conditions remain intact and the
setback is likely a correction. Key support today is at a trendline drawn off
the Dec 2 low that intersects at 0.6840. A break would risk a deeper pullback.

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