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Free AccessRecovery Has $0.7457-$0.7481...........>
AUSSIE TECHS: Recovery Has $0.7457-$0.7481 Resistance Next
*RES 4: $0.7550/61 61.8% of $0.7677-$0.7345, Jun 8 low
*RES 3: $0.7521/29 1% volatility band, Jun 13 low
*RES 2: $0.7476/81 May 29 low, Jun 15 high
*RES 1: $0.7449/57 1.618 swing $0.7409-$0.7345, Jun 22 high
*PRICE: $0.7398 @1640GMT
*SUP 1: $0.7390/95 Hourly support
*SUP 2: $0.7370 Initial rally high Jun 21, now support
*SUP 3: $0.7345 Jun 21 low
*SUP 4: $0.7327/33 61.8% of $0.6827-$0.8136, May 9 2017 low
*COMMENTARY* Last week's dips to firstly $0.7347 and then $0.7345, had a duel
with the lower 2% volatility band, which managed to control the fall. The
following recovery on the back of heavily oversold studies has reached $0.7457
so far, before giving back some ground. Support now between $0.7395-$0.7370,
back below the latter would concern again. Above $$0.7457 and $0.7476-$0.7481
becomes the next potential barrier to overcome.
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.