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Free AccessStill Vulnerable Following Trendline...>
AUSSIE TECHS: Still Vulnerable Following Trendline Break
*RES 4: 0.6939 200-DMA
*RES 3: 0.6930 High Oct 31 and bull trigger
*RES 2: 0.6906 High Nov 8
*RES 1: 0.6841/46 High Nov 14 / Former trendline support
*PRICE: 0.6820 @ 16:59 GMT Nov 18
*SUP 1: 0.6770 61.8% of Oct 2 - Oct 31 rally / Intraday low
*SUP 1: 0.6752 Low Oct 17
*SUP 3: 0.6732 76.4% retracement of Oct 2 - Oct 31 rally
*SUP 4: 0.6724 Low Oct 16
AUDUSD suffered a bearish session last Thursday as strong selling pressure
followed the break of trendline support at 0.6830, drawn off the Oct 2 low. The
clear break of this trendline represents a short-term bearish development and
signals scope for a deeper pullback. 0.6770 has been achieved, this is the 61.8%
retracement of the rally between Oct 2 and Oct 31. The 76.4% level is at 0.6732.
Resistance is Thursday's high of 0.6841.
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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.