Free Trial

50-dma Looks Like Decent Resistance....>

AUSSIE TECHS
AUSSIE TECHS: 50-dma Looks Like Decent Resistance
For a third session, rallies fell short on an approach into the 0.7137 50-dma,
which looks to be building up as decent resistance, and becomes the first target
next week. A close at current levels or lower will shift the focus to the 0.70
level below which resumes the longer term downtrend. Bulls need to recover the
50-dma to improve the outlook and open the key 200-dma at 0.7272.

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.