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Free AccessFocus Shifts To $0.7229-0.7802 *RES....>
AUSSIE TECHS: Focus Shifts To $0.7229-0.7802
*RES 4: $0.8118 - High Jan 29
*RES 3: $0.8079 - Hourly resistance Jan 31
*RES 2: $0.8046 - Hourly resistance Feb 1
*RES 1: $0.7976 - 21-DMA
*PRICE: $0.7922 @ 0530GMT
*SUP 1: $0.7882 - Hourly support Jan 12
*SUP 2: $0.7802 - Low Jan 3
*SUP 3: $0.7783 - 55-DMA
*SUP 4: $0.7746 - 200-DMA
*COMMENTARY: Hesitation ahead of $0.8135-62 has taken its toll with a sharp
sell-off and bearish close below the 21-DMA ($0.7976) leaving the pair looking
heavy and bears now focused on $0.7729-0.7802 where key DMAs are situated. Daily
studies are well placed for losses. Bulls now need a close above the 21-DMA to
ease immediate bearish pressure and above $0.8046 to shift initial focus back to
$0.8135-62.
To read the full story
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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.