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AUD/USD Probing Above 0.7120


CNY Fixing Close To Expectations

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BUND TECHS: (Z9) Focus is on double top
*RES 4: 177.00 Round number resistance
*RES 3: 176.86 Contract high, Sep 3
*RES 2: 176.17 High Sep 4
*RES 1: 175.76 High Sep 5
*PRICE: 175.23 @ 03:02 GMT Sep 9
*SUP 1: 174.14 Low Sep 5
*SUP 2: 173.72/68 38.2% of the rally between Jul 12 - Sep 3 / Low Aug 8
*SUP 3: 173.68/43 Low Aug 5 / 50-day MA
*SUP 4: 172.76 50.0% of the rally between Jul 12 - Sep 3 / Low Aug 8
Z9 Bund rebounded Friday. An important resistance has been defined at 175.76,
Thursday's high. Last weeks key technical development was the confirmation of a
double top following the break of 174.68, Aug 23 low. This signals a shift in
market sentiment and highlights the potential for a deeper correction. The
pattern's price objective is 172.50. For this scenario to hold though, prices
should remain below 175.76. A break would expose the contract high at 176.86.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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