Second test of resistance

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While the week had a strong bullish theme the second test of resistance has failed for now, also there is a notable risk theme divergence between currency and stock market strength - potential double top setup. Coronavirus, market sentiment, fundemental data release - see how the market digests. While AU exposure to Asian business is higher than the US and ASX generally follows global risk on trends today it was the opposite, while Nasdaq and Dow dipped the ASX edged higher. Another interesting observation is that most market players were confident buying into the closing bell hour to hold their positions over the weekend.

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