Free Trial

$0.7863 Support Key Today *RES 4:......>

AUSSIE TECHS
AUSSIE TECHS: $0.7863 Support Key Today
*RES 4: $0.7996 - High Aug 30
*RES 3: $0.7977 - Hourly support Aug 30a now resistance
*RES 2: $0.7950 - Hourly support Aug 30 now resistance
*RES 1: $0.7923 - Hourly resistance Aug 31
*PRICE: $0.7895 @ 0215GMT
*SUP 1: $0.7886 - Hourly support Aug 31 
*SUP 2: $0.7863 - Low Aug 24 
*SUP 3: $0.7807 - Low Aug 15
*SUP 4: $0.7802 - 55-DMA
*COMMENTARY: The sharp reversal lower from the day's highs sees the pair
flirting with the daily bull channel base ($0.7906) and looking a little heavy.
The $0.7863 support remains key today with bears needing a close below to
confirm a break of the channel base and shift immediate focus to $0.7780-0.7807
where the 55-DMA is situated. Layers of resistance have followed the pair lower
with bulls needing a close above $0.7950 to shift focus back to $0.7996-0.8065.

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.