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(Z9) Resumes Its Downtrend......>

AUSSIE 3-YEAR TECHS
AUSSIE 3-YEAR TECHS: (Z9) Resumes Its Downtrend
*RES 4: 99.315 - High Oct 25
*RES 3: 99.240 - High Oct 31and key near-term resistance
*RES 2: 99.192 - Bear channel resistance drawn off Oct 10 high
*RES 1: 99.165 - High Nov 7
*PRICE: 99.0850 @ 18:24 GMT Nov 7
*SUP 1: 99.070 - Intraday low
*SUP 2: 99.055 - 1.000 projection of Oct 8 - Oct 22 decline from Oct 25 high
*SUP 3: 99.027 - Low Bear channel base drawn off Oct 10 high
*SUP 4: 98.994 - 1.236 projection of Oct 8 - Oct 22 decline from Oct 25 high
A sharp sell-off has defined today's price action in the Aussie 3yr. The result
has been a break of former key support at 99.075, Sep 16 low. This reinforces
the current bearish theme and also the bearish price sequence of lower lows and
lower highs that has developed since the reversal off the Oct 7 high. The focus
is on the base of the bear channel at 99.027. The channel is drawn off the Oct
10 high. Resistance is at 99.165, Nov 7 high.

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