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(M9) Consolidation the Theme....>

AUSSIE 3-YEAR TECHS
AUSSIE 3-YEAR TECHS: (M9) Consolidation the Theme
*RES 3: 99.104 - 123.6% Fib Projection (97.775-98.850)
*RES 2: 98.933 - 1st Pivot Resistance 98.520-98.850
*RES 1: 98.850 - All Time High
*PRICE: 98.820 @ 16:42 BST May 17
*SUP 1: 98.639 - 50-dma
*SUP 2: 98.596 - 23.6% Fib Retracement (97.775 - 98.850)
*SUP 3: 98.463 - 100-dma
The short-end of the Aussie curve consolidated recent price action Friday,
finishing the week with sharp gains following poor April jobs data Thursday. The
all time high watermark still sits at 98.850, and bulls continue to hold court.
Pivot resistance is eyed at 98.933 as the first target. Further gains, however,
may not be so easily won as the RSI continues to bump into oversold levels. To
shift the outlook negative, a retracement below the 98.573 mark is needed to
weaken momentum.

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