Free Trial

$0.7838 & $0.7949 Levels Key *RES 4:...>

AUSSIE TECHS
AUSSIE TECHS: $0.7838 & $0.7949 Levels Key
*RES 4: $0.7949 - High Aug 7 
*RES 3: $0.7919 - Hourly support Aug 8 now resistance 
*RES 2: $0.7876 - Hourly resistance Aug 11 
*RES 1: $0.7856 - Low Aug 10 now resistance
*PRICE: $0.7846 @ 0210GMT
*SUP 1: $0.7838 - High July 17 now support 
*SUP 2: $0.7781 - Low July 17 
*SUP 3: $0.7749 - Hourly support July 14a 
*SUP 4: $0.7706 - 55-DMA
*COMMENTARY: The pair remains heavy with immediate bearish focus on the $0.7838
support. Overall a close below $0.7838 is needed to shift focus to
$0.7749-0.7781. Bulls now look for a close above $0.7876 to gain breathing room
and above $0.7949 to hint at a move back to $0.8044-65 with above $0.7998 needed
to confirm. Daily studies have room to move before O/S is an issue but the
Bollinger base ($0.7819) is now a concern.

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.