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JAPAN DATA

Japan June Inflation Accelerated; +2.2% Y/Y

AUDNZD

Attempting To Break Above 1.1100

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EQUITIES
EQUITIES: TECHS: On Tuesday we highlighted a potential reversal in the NASDAQ:
- A bearish engulfing candle reversal unfolded Monday.
- The potential significance of this pattern is reinforced by a clear bearish
divergence between price direction (up) and momentum (signalling down).
- The recovery from yesterday's low is at this stage seen as a correction and
Monday's high/low range represents a strong band of resistance.
- Key resistance has been defined at 10824.79, Jul 13 high where a break is
would negate Monday's bearish pattern and confirm a resumption of the uptrend.
- Watch supports at 10182.46, yesterday's low and 10146.76, the base of a bull
channel drawn off the Apr 3 low.
- A break of both levels strengthen an argument that suggests bullish sentiment
has soured.

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