Free Trial

Back above 0.70: *RES 4: 0.7098........>

AUSSIE TECHS
AUSSIE TECHS: Back above 0.70:
*RES 4: 0.7098 200-dma
*RES 3: 0.7069 High Apr 30
*RES 2: 0.7048 High May 7
*RES 1: 0.7033/36 100-dma, cloud top & High Jul 1
*PRICE: 0.7005 @ 08:52 GMT July 3
*SUP 1: 0.6956/55 Low Jul 1 / 50-DMA
*SUP 2: 0.6941 Former bear channel resistance now support
*SUP 3: 0.6942 Low Jun 25
*SUP 4: 0.6926 Low Jun 24
AUDUSD breached its narrow trading range with a move back above the 0.70 level.
Technical conditions remain bullish following last weeks bear channel breakout.
Key resistance is seen at 0.7030/40 which holds the 100-dma, cloud top & Jul 1
high. Support now provided by the former channel top is at 0.6941 and represents
an important level. If this support holds, and the pair moves back above
Monday's high of 0.7036, a bearish reversal will have been averted.

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.