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(U18) Consolidation Continues...>

AUSSIE 3-YEAR TECHS
AUSSIE 3-YEAR TECHS: (U18) Consolidation Continues
*RES 4: 98.190 - 50% Fib 98.700-97.675 (Continuation Chart)
*RES 3: 98.110 - High Nov 30, 17 (Continuation Chart)
*RES 2: 98.092 - 61.8% 98.350-97.675
*RES 1: 98.050 - Intraday High Sep 3, Upper Bound Of Trend Channel
*PRICE: 97.985 @ 17:52 GMT, Sep 7
*SUP 1: 97.963 - Bottom of 1-month trend channel
*SUP 2: 97.907 - 3-Month trendline support, top end of Jul-Aug range
*SUP 3: 97.820 - Low July 24
*SUP 4: 97.795 - High June 11/13 now support
The Sep-18 future contract has stabilised following its daily reversal on Sep 3,
leaving it firmly in consolidation mode. The 98.05 3-month high hit that day
also represents the biggest obstacle for bulls, as resistance at the top of a
multi-month trend channel. On a downside move, support comes in at the bottom of
the current trend channel at 97.963, with the longer-term uptrend at 97.910
below that.

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