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After testing 7841.0000 numerous times, AUS200 is once again approaching this price point. Can we expect a bullish trend to follow?

AUS200 is moving towards a line of 7841.0000 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If AUS200 continues in its current trajectory, we may see it move towards 7841.0000 within the next 2 days.

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Supports and resistances are primary concepts of technical analysis. GBP/USD is heading for an important price of 1.2774 – read about what this could mean for the future.

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