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Free AccessDownside Back Under Pressure As Long...>
AUSSIE TECHS: Downside Back Under Pressure As Long Term Fibo Support Wavers
*RES 4: $0.7423 Jun 26 high
*RES 3: $0.7407 Jun 27 high
*RES 2: $0.7385/90 Hourly congestion area Jun 26-27
*RES 1: $0.7362 Hourly resistance
*PRICE: $0.7353 @1616GMT
*SUP 1: $0.7300/16 Hourly support, 1% volatility band
*SUP 2: $0.7276 1.618 swing of $0.7345-$0.7457
*SUP 3: $0.7252 Max 5th wave target in fall from $0.7677
*SUP 4: $0.7235 2018 bear channel base Proj'n, 2% vol band
*COMMENTARY* Last week's $0.7347-$0.7345 lows have given way now and the longer
term 61.8% Fibo retrace level at $0.7327, has had its cage rattled. A low of
$0.7323 on Wednesday, as we approach the lower 1% volatility band at $0.7316,
being the protection against a further $0.7300-$0.7252 fall. Meanwhile, $0.7362
provides immediate resistance but $0.7385-$0.7407 is tougher higher.
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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.