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Free AccessBears Focused On..................>
EURO-AUSSIE TECHS: Bears Focused On A$1.4999-1.5087
*RES 4: A$1.5392 - 2017 High Oct 26
*RES 3: A$1.5298 - Alternating hourly support/resistance
*RES 2: A$1.5255 - High Oct 27
*RES 1: A$1.5187 - Hourly resistance Oct 27
*PRICE: A$1.5131 @ 2000GMT
*SUP 1: A$1.5097 - Hourly support Oct 24
*SUP 2: A$1.5087 - High Oct 20 now support, 21-DMA
*SUP 3: A$1.5024 - Daily Bull channel base
*SUP 4: A$1.4999 - 55-DMA
*COMMENTARY: The dramatic sell-off after trading at fresh 2017 and 16mth highs
left the pair looking very heavy with losses Friday seeing bears focused on
A$1.4999-1.5087 where 21 & 55-DMA and the bull channel base are situated. Bears
need a close below the 55-DMA to hint at a move to A$1.4790 Sept lows with below
the 100-DMA (A$1.4913) to confirm. Bulls now look for a close above A$1.5255 to
shift focus back to recent 2017 highs.
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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.