Free Trial

$0.7914 Holds Fall And With It Near....>

AUSSIE TECHS
AUSSIE TECHS: $0.7914 Holds Fall And With It Near Term Upside Hopes
*RES 4: $0.8060/66 1.618 swing $0.7990-$0.7877, Jul 27 high
*RES 3: $0.8043/45 Aug 1 high, 1% volatility band
*RES 2: $0.7993 Aug 2 high
*RES 1: $0.7980 Hourly resistance
*PRICE: $0.7967 @1152GMT
*SUP 1: $0.7914/22 Aug 3 low, 76.4% Fibo $0.7878-$0.8066
*SUP 2: $0.7875/85 Jul 21, Jul 26 lows, 1% volatility band
*SUP 3: $0.7863 38.2% Fibo of $0.7535-$0.8066
*SUP 4: $0.7800 50% Fibo of $0.7535-$0.8066
*COMMENTARY* A rally to $0.8043 on Tuesday but quickly reversed without seeing
an attempt to retest last month's $0.8066 high. The subsequent loss of
$0.7956-$0.7960 support is a near term concern and as a result puts pressure
back on $0.7922 region. The latter still seen as key near term support, loss can
see the beginning of a decent correction. Some earlier $0.7980-$0.7993
resistance now ahead of $0.8043-45.

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.