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Rate is rallying for a third consecutive.....>

AUSSIE
AUSSIE: Rate is rallying for a third consecutive session, improving beyond the
$0.7250 mark for the first time since late August. The 50-dma remains the
initial target for bulls, lying at $0.7309, before any recovery beyond August's
best levels. The commodity complex has been highly supportive so far Wednesday,
with metals prices in particular rallying strongly. $0.7311 could be a tougher
level of resistance, marking both the 76.4% Fib retracement level for the
$0.7382-0.7085 move as well as the descending trend line from Jan29.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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