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Free Access0.7050 Anchors The pair traded.........>
AUSSIE TECHS: 0.7050 Anchors
The pair traded either side of the 0.7050 mark for a fourth consecutive session
Wednesday, shrugging off further underperformance in industrial metals prices.
Topside focus remains on a break of 0.71 & the 55-dma at 0.7105. A close above
is needed to suggest a broader recovery, opening the key 200-dma at 0.7174,
ahead of the April 17 high at 0.7206. Bears look for a close below 0.7000, with
a break of the April 25 low at 0.6988 shifting the focus back to the Jan lows.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.