Fonterra is expected to report strong results when it releases its half-year results on Wednesday, but China’s debt concerns may keep the currency under pressure.
Nevertheless, a break above 0.68 handle could turn the attention to 0.6819, which if violated would expose flag resistance at 0.6857.
Conversely, a failure to take out 0.68-0.6819 if followed by a move below immediate support at 0.6747 would increase risk of a break from . still, bears would need to watch out for a rebound of flag support seen around 0.67 handle.
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