Asian shares have fallen sharply over concerns over the health of the Spanish banking system, with Japan’s Nikkei down 1.8%. Australia’s ASX fell 1.2% and Korea’s Kospi fell 1.5%.
The pair broke below the overnight low of 78.85 and is now recording a fresh 3-month low of 78.75 vs. 79.05 late Wednesday, down 0.4% so far this Thursday in Asia.
Immediate support comes in at the 200-day moving average around 78.61, but stops are said to be located below there, with some talk of optionality at 78.50, according to IFR markets. Resistance is now at 78.85.
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