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(U2) Near-Term Bounce Accelerates

AUSSIE 3-YEAR TECHS
  • RES 3: 98.350 - High Mar 3
  • RES 2: 97.975 - High Mar 16
  • RES 1: 97.530 - High Mar 31
  • PRICE: 96.820 @ 14:40 BST Jul 4
  • SUP 1: 95.920 - Low Jun 16
  • SUP 2: 95.764 - 3.0% Lower Bollinger Band
  • SUP 3: 95.564- 1.0% 10-dma envelope

Prices have resumed a corrective bounce, putting prices well above the near-term bear trigger. Despite the near-term rally, the broader trend remains pointed lower, with moving average studies adding to the pressure. Further weakness opens 95.764 - the 3.0% lower Bollinger Band as well as 95.564, the lower band of a moving average envelope. Key short-term resistance remains 97.530, the Mar 31 high.

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