Free Trial

Approaching The Bull Trigger *RES 4:...>

AUSSIE TECHS
AUSSIE TECHS: Approaching The Bull Trigger
*RES 4: 0.6685 High Mar 9 and a key resistance
*RES 3: 0.6613 High Mar 10
*RES 2: 0.6570 High Apr 30 and bull trigger
*RES 1: 0.6548 Intraday high
*PRICE: 0.6539 @ 16:45 BST May 8
*SUP 1: 0.6476 High May 5
*SUP 2:0.6373 Low May 5 and key near-term support
*SUP 3: 0.6337 Low Apr 24
*SUP 4: 0.6254 Low Apr 21 and bear trigger
AUDUSD held gains well into the Thursday close and maintained a positive note
Friday. The pair has managed to find support at 0.6390/80 zone 20- and 50-day
EMA levels respectively. This week's low has been 0.6373. While this low holds,
the uptrend remains intact with attention on key resistance at 0.6570. A break
would resume the uptrend and open 0.6613 and 0.6684/85. Clearance of the EMA's
and 0.6373 would concern bulls.

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.