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Free AccessRally Fails Into The $0.7812-$0.7813...>
AUSSIE TECHS: Rally Fails Into The $0.7812-$0.7813 Target Zone
*RES 4: $0.7852 76.4% Fibo of $0.7917-$0.7643
*RES 3: $0.7827 1% volatility band
*RES 2: $0.7812/13 61.8% $0.7917-$0.7643, 2 month res line
*RES 1: $0.7785/95 Hourly resistance
*PRICE: $0.7735 @1710GMT
*SUP 1: $0.7727/32 Apr 4 high, 50% Fibo of $0.7650-$0.7813
*SUP 2: $0.7711/12 Apr 9 high, 61.8% Fibo of $0.7650-$0.7813
*SUP 3: $0.7688 76.4% Fibo of $0.7650-$0.7813
*SUP 4: $0.7672 1% volatility band
*COMMENTARY* Once again saw a challenge to $0.7812-$0.7813 resistance, a
combination of a 61.8% Fibo retrace level and the 2 month falling resistance
line. While capped here, then immediate risk is for lower and a move back
towards $0.7727 support. Have to hold here now, or recent upside momentum will
be in jeopardy and open up deeper corrective potential of gains from $0.7650. In
the interim, nearest resistance falls to $0.7785-$0.7795.
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.