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Fails To Hold Above 0.7000 Rate........>

AUSSIE TECHS
AUSSIE TECHS: Fails To Hold Above 0.7000
Rate still struggles for traction above the psychological 0.7000 level, despite
a marginal close above on Friday on the back of the NFP inspired run higher.
Bulls need a break above last week's high of 0.7022 to reignite upside momentum,
which would allow them to focus on the 50% fibo of the Apr-May fall at 0.7029.
Further resistance is located at 0.7069/70 from the Apr 30 high & 100-dma.
Bears' downside focus remains on a break of the 21-dma & Jun 3 low at 0.6933/27.
Below here opens a return to the range lows at 0.6865, ahead of the 0.6825/40
area which registered a series of previous lows through Jan 2016.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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