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Free AccessBacks Away From Congested..............>
AUSSIE TECHS: Backs Away From Congested $0.7655-$0.7685 Resistance Area
*RES 4: $0.7730/33 Nov 2 high, Oct 6 low
*RES 3: $0.7703 1.618 swing of $0.7645-$0.7551
*RES 2: $0.7675/85 1% vol band, congestion area Nov 8-10
*RES 1: $0.7655/65 Hourly resistance
*PRICE: $0.7591 @1314GMT
*SUP 1: $0.7572 Hourly support
*SUP 2: $0.7551/52 Nov 30, Nov 29 lows
*SUP 3: $0.7532 Nov 21 low
*SUP 4: $0.7520 76.4% Fibo of $0.7333-$0.8126, 1% vol band
*COMMENTARY* Continued to recover, albeit slowly over the early part of the
week. A high of $0.7654 on Tuesday, before once again succumbing to some
downside pressure. Has lost $0.7580 support today but still has $0.7552-$0.7532
safeguarding the key dual support from $0.7520. This then the protection against
a deeper $0.7457 fall. Above $0.7654 and still have congested resistance between
$0.7665-$0.7685 to surmount before any real upside impetus will follow.
To read the full story
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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.