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Heading South

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Trades Through Key Short-term Resistance

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Compelling Case for 50Bp Hikes

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BLOCK, 5Y Sale

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AUSSIE TECHS
AUSSIE TECHS: Rallies Inconsequential While $0.7685-$0.7700 Caps
*RES 4: $0.7770 Oct 24 low, now resistance
*RES 3: $0.7754 50% Fibo of $0.7884-$0.7625
*RES 2: $0.7724/30 38.2% of $0.7884-$0.7625, Nov 3 high
*RES 1: $0.7685/01 Hourly resistance, Nov 7 high
*PRICE: $0.7675 @16355GMT 
*SUP 1: $0.7625/31 Oct 27 low, 1.618 swing of $0.7733-$0.7898
*SUP 2: $0.7571 Jul 5 low
*SUP 3: $0.7560 1.618 swing of $0.7625-$0.7730
*SUP 4: $0.7535 Jun 22 low
*COMMENTARY* Another test towards $0.7625 support on Tuesday, before recovering,
aided by some oversold hourly conditions. To be of any substance however, then
rallies must firstly make it back through $0.7685 and then more importantly
yesterday's $0.7701 high. While capped here, then the near term bias will remain
for lower and eventually another $0.7625 challenge. Beneath which the lower 1%
volatility band at $0.7597 then protects $0.7571-$0.7560.

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