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Free AccessRecovery Still Needs A $0.7701 Break...>
AUSSIE TECHS: Recovery Still Needs A $0.7701 Break To Be Of Consequence
*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: $0.7695/01 Nov 10, Nov 7 highs
*PRICE: $0.7661 @0640GMT
*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 last Tuesday, before
recovering, aided by some oversold hourly conditions. To be of any substance
however, then rallies must firstly make it back through $0.7695 and then more
importantly Tuesday'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 $0.7599 then protects $0.7571-$0.7560.
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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.