Free Trial

0.70 Becomes Resistance AUDUSD.........>

AUSSIE TECHS
AUSSIE TECHS: 0.70 Becomes Resistance
AUDUSD breached pivotal support yesterday, with the rate touching flash crash
lows of 0.6741, a level not seen since 2009. AUD recovered off the low extending
the move to 0.6970/75 in early Europe. A break back above 0.70 is now needed to
suggest a bullish reversal, opening the Dec 27 high at $0.7078, ahead of the
100-dma at 0.7186. Near-term support comes in today from the 3% lower Bollinger
band & 50% retracement of 0.6741-0.6948 at 0.6850/45, below here opens a run at
the multi-year low.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.