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Free AccessCaution As Decline Oversteps 2%........>
AUSSIE TECHS: Caution As Decline Oversteps 2% Volatility Band
*RES 4: $0.7987 Feb 1 low, now resistance
*RES 3: $0.7954 Feb 5 high
*RES 2: $0.7911 Feb 6 high
*RES 1: $0.7875/85 Hourly resistance
*PRICE: $0.7814 @1103GMT
*SUP 1: $0.7803/09 Intraday low, 2% volatility band
*SUP 2: $0.7788 1.618 swing of $0.7835-$0.7911
*SUP 3: $0.7744 61.8% Fibo of $0.7502-$0.8136
*SUP 4: $0.7730/32 Dec 27, Dec 25 lows
*COMMENTARY* The decline has gathered pace and exuberance over the course of the
week. A low of $0.7803 today, slightly below the lower 2% volatility band at
$0.7809 by time today. As always, cautious when this occurs as it is never a
long lasting event. Any lower and the swing target at $0.7788 is the next
protection to the downside, the 61.8% Fibo retrace at $0.7744 below. Resistance
$0.7875-$0.7885, back above the latter would provide some respite.
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Why MNI
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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.