Free Trial

Another False Break AUDUSD witnessed...>

AUSSIE TECHS
AUSSIE TECHS: Another False Break
AUDUSD witnessed another false break of 0.70 on Monday, with the corrective
pullback extending to 0.6953 today. Downside focus remains on a break of the
21-dma & Jun 3 low at 0.6932/27. Below here opens a return to the range lows at
0.6865, ahead of the 0.6825/40 area which registered a series of previous lows
through Jan 2016. Bulls need to recover the 0.70 level on a closing basis,
before targeting the double top area at 0.7020/25. The 50% retracement of the
Apr-May fall is placed behind at 0.7029, ahead of the 100-dma & Apr 30 high at
0.7068/69.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.