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Free AccessCorrective Mode *RES 3: 0.7082 High....>
AUSSIE TECHS: Corrective Mode
*RES 3: 0.7082 High Jul 19 and key resistance
*RES 2: 0.7032 High Dec 31 and bull trigger
*RES 1: 0.6995 Intraday high
*PRICE: 0.6960 @ 16:20 GMT Jan 3
*SUP 1: 0.6930 Intraday low
*SUP 2: 0.6904 Low Dec 25
*SUP 3: 0.6883 Low Dec 20
AUDUSD was under pressure for much of the Friday morning, but managed to stage a
mini-recovery ahead of the close. The move lower is likely a correction with the
broader outlook still bullish. Strong gains over December reinforced the bullish
theme. The rally cleared the former key resistance at 0.6939, Dec 13 high to
confirm a resumption of the uptrend and also reinforce what appears to be a
broader base that has been developing since August. Next support is seen at
0.6904.
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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.