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Free Access$0.7569-0.7615 Resistance Key Today....>
AUSSIE TECHS: $0.7569-0.7615 Resistance Key Today
*RES 4: $0.7615 - Daily Bear channel top
*RES 3: $0.7598 - Hourly support Dec 5 now resistance
*RES 2: $0.7569 - Hourly resistance Dec 7
*RES 1: $0.7555 - Hourly resistance Dec 7a
*PRICE: $0.7530 @ 2030GMT
*SUP 1: $0.7500 - Low Dec 8
*SUP 2: $0.7474 - LT Bull channel base (Jan 20 2016 low)
*SUP 3: $0.7410 - Low June 5
*SUP 4: $0.7365 - Low May 12
*COMMENTARY: Having closed below $0.7519 last week confirmed immediate bearish
focus on the LT bull channel base. A close below the channel base sees bears
targeting $0.7326-65 where the MT bear channel base is noted. In saying that,
the $0.7569 resistance remains key. Bulls need a close above to ease bearish
pressure with a close above the bear channel top to shift initial focus back to
$0.7653-0.7768 where 55 ($0.7697) & 200 ($0.7689) -DMAs are noted.
To read the full story
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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.