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Doji Candle Pattern Highlights Bullish Reversal


10YY Well Below 3.0%

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AUSSIE TECHS: Downside Risk Still Intact
*RES 4: 0.6774 High Feb 5 and key near-term resistance
*RES 3: 0.6750 High Feb 12
*RES 2: 0.6702 Trendline resistance drawn off the Jan 2 high
*RES 1: 0.6660 Low Feb 10 and former breakout point
*PRICE: 0.6591 @ 10:47 GMT Feb 24
*SUP 1: 0.6585 Intraday low
*SUP 2: 0.6568 Lower 3.0% Bollinger Band
*SUP 3: 0.6555 2.0% 10-dma envelope
*SUP 4: 0.6529 Low Mar 16 2009
AUD weakened further Friday, hitting new multi-year lows in the process before
staging a bounce. The pair though is again under pressure today. Pressure has
also begun to emerge from the longer-term dma space, in which the 100-mma now
sits below the 200-mma for the first time since 2008. This reinforces this
year's bearish pressure and highlights the potential for further weakness. The
lower 3.0% Bollinger Band may moderate any further decline at 0.6576.

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