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Price Signal Summary: USDBRL Bear Cycle Extends

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Front Rates Unwind Overnight Strength

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Swedbank on today's statement

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Tsy/Eurodollar Market Roundup

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Nordea on today's Norges Bank decision

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  • RES 3: 99.795 - High Aug 20 (cont)
  • RES 2: 99.300 - High Oct 14/15
  • RES 1: 99.120 - High Oct 19 and key near-term resistance
  • PRICE: 98.820 @ 16:27 GMT Dec 07
  • SUP 1: 98.540 - Low Oct 29
  • SUP 2: 98.510 - 61.8% 2018 - 2020 Range
  • SUP 3: 97.957 - 1.0% 10-dma envelope

Aussie 3yr futures traded solidly Friday, but have faded since as markets held inside the week’s range. This returns focus to the previously bearish trend, and markets need to top the first resistance at 99.120 to re-engage any rally. This leaves markets eyeing 98.540 Oct 29 low as first support as well as 98.510, the 61.8% level for the 2018-2020 range.