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Free AccessMNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks
A$1.5697-1.5824 Resistance........>
EURO-AUSSIE TECHS: A$1.5697-1.5824 Resistance Region Key
*RES 4: A$1.5853 - Hourly resistance Mar 8
*RES 3: A$1.5824 - High Mar 9
*RES 2: A$1.5778 - Alternating hourly support/resistance
*RES 1: A$1.5697 - Low Mar 1 now resistance
*PRICE: A$1.5664 @ 2030GMT
*SUP 1: A$1.5598 - Low Feb 20
*SUP 2: A$1.5546 - Low Feb 2
*SUP 3: A$1.5530 - 55-DMA
*SUP 4: A$1.5509 - Daily Bull channel base off 2018 Low
*COMMENTARY: The lack of topside follow through has again taken its toll with a
sell-off and close below the 21-DMA that saw focus return to A$1.5478-1.5598
where 55 & 100-DMAs and the bull channel base off 2018 lows are situated. Below
the 100-DMA hints at a move back to A$1.5152-1.5256. Layers of resistance are
accumulating and weighing with bulls needing a close above A$1.5824 to shift
initial focus back to 2018 highs (A$1.5976).
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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.