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Free Access76.4% Fibo At $0.7794 Stands In Way....>
AUSSIE TECHS: 76.4% Fibo At $0.7794 Stands In Way Of Better Recovery
*RES 4: $0.7871 1% volatility band
*RES 3: $0.7851 76.4% Fibo of $0.7893-$0.7713
*RES 2: $0.7819/24 Feb 28 high, 61.8% of $0.7893-$0.7713
*RES 1: $0.7794 76.4% Fibo of $0.7819-$0.7713
*PRICE: $0.7758 @0952GMT
*SUP 1: $0.7726 Mar 5 low
*SUP 2: $0.7713 Mar 1 low, 1% volatility band
*SUP 3: $0.7695 Dec 15 high, now support
*SUP 4: $0.7637/52 2% vol band, 76.4% of $0.7502-$0.8136
*COMMENTARY* Break below the previous $0.7759 low last week has resulted in a
base at $0.7713 so far, before picking up aided by some near term oversold
conditions. This keeps us above the lower 1% volatility band also at $0.7713
today, for the time being today but will need the added emphasis of a 0.7794
break, before any further confidence in the upside will follow. Below $0.7713
and the Dec 15 high at $0.7695 protects against a deeper $0.7652-$0.7637 fall.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.