Free Trial

$0.8044-81 Resistance Region Key.......>

AUSSIE TECHS
AUSSIE TECHS: $0.8044-81 Resistance Region Key
*RES 4: $0.8081 - Hourly support Sept 8 now resistance
*RES 3: $0.8061 - Hourly resistance Sept 11
*RES 2: $0.8044 - High Sept 13
*RES 1: $0.8016 - Hourly resistance Sept 14
*PRICE: $0.8003 @ 0430GMT
*SUP 1: $0.7961 - Low Sept 6, 21-DMA 
*SUP 2: $0.7920 - Hourly support Aug 31 
*SUP 3: $0.7883 - 55-DMA 
*SUP 4: $0.7863 - Low Aug 24
*COMMENTARY: The correction lower from 2017 highs sees the pair flirting with
the daily bull channel base ($0.7992). Bears now look for a close below the
21-DMA to confirm a break of the channel base and below $0.7920 to shift initial
focus to $0.7863-83 where the 55-DMA is located. Daily studies are well placed
for a fresh leg lower. Bulls now need a close above $0.8044 to gain breathing
room and above $0.8081 to reconfirm initial focus on 2017 highs.

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.