Free Trial

Approaches trendline support: *RES 4:........>

AUSSIE
AUSSIE: Approaches trendline support:
*RES 4: 0.7118 76.4% retracement of the decline between Apr 17-Jun 18
*RES 3: 0.7103 High Apr 24
*RES 2: 0.7082/7090 High Jul 19 / 200-dma
*RES 1: 0.7036 High Jul 23
*PRICE: 0.6981 @ 05:01 GMT July 24
*SUP 1: 0.6960 Trendline support drawn off the Jun 18 low
*SUP 2: 0.6957/56/54 50-dma / Low Jul 11 and 50% of the Jun 18-Jul 19 rally
*SUP 3: 0.6927 61.8% retracement of the Jun 18-Jul 19 rally
*SUP 4: 0.6911 Low Jul 10
The AUDUSD correction extends below 0.7000. This weakens the near-term outlook,
however the underlying trend remains bullish following the recent strong rebound
off the Jul 10 low. . A trendline support drawn off the Jun 18 low that
intersects at 0.6960 today marks an important support. It also lies just above
the 50% retracement of the Jun 18-Jul 19 rally at 0.6957. A break would signal
scope for an even deeper pullback. Resistance for now is 0.7036.

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.