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Free Access(M18) 97.2900 Resistance Key...>
AUSSIE 10-YEAR TECHS: (M18) 97.2900 Resistance Key
*RES 4: 97.3971 - 100-WMA
*RES 3: 97.3650 - High May 31
*RES 2: 97.2900 - Low June 1 now resistance
*RES 1: 97.2585 - 200-DMA
*PRICE: 97.2250 @ 2130GMT
*SUP 1: 97.1725 - Low June 12
*SUP 2: 97.1450 - Low June 7
*SUP 3: 97.1187 - LT Weekly Bull channel base off 2008 Low
*SUP 4: 97.1000 - Hourly resistance May 17 now support
*COMMENTARY: The break of 97.1500 lacked follow through and now sees the
contract working its way back towards the key 97.2900 resistance. Bulls continue
to look for a close above 97.2900 to confirm breaks of DMAs and to shift focus
back to 97.3650-4400. The 97.0450-1187 support region where the weekly LT bull
channel base and 2018 low are noted remains key with a close below 97.0450
initially targeting 96.9650.
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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.