Free Trial

Bears release pressure for now: *RES...>

AUSSIE TECHS
AUSSIE TECHS: Bears release pressure for now:
*RES 4: 0.6895 High Sep 12 and bull trigger
*RES 3: 0.6870 High Sep 17
*RES 2: 0.6831 High Sep 19
*RES 1: 0.6806/09 High Sep 24 / High Sep 20
*PRICE: 0.6761 @ 08:42 GMT Sep 27
*SUP 1: 0.6739 Low Sep 25
*SUP 2: 0.6737 76.4% retracement of Sep 3 - Sep 12 rally
*SUP 3: 0.6688 Low Sep 3
*SUP 4: 0.6677 Early August / cycle lows
AUDUSD remains vulnerable following the sharp sell-off Wednesday although the
pressure moderated slightly Thursday. Nonetheless, the crack of key support
leaves bears eyeing the late August lows and the YTD low of 0.6677. The
immediate focus is on 0.6737, 76.4% retracement where a break would open further
downside. Resistance is at 0.6806/09. A break, would be seen as an important
bullish development potentially reversing the current decline.

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.