Free Trial

Bears Targeting a Break of 0.72........>

AUSSIE TECHS
AUSSIE TECHS: Bears Targeting a Break of 0.72
AUDUSD failed to hold above the 50-dma and downtrend resistance on Wednesday
with the subsequent reversal extending to 0.7202. Bears now target a break of
the 0.7200 level, where the 21-dma currently resides. Through here brings the
Sep 11 YTD low at 0.7085 back into play, ahead of the psychological 0.7000 level
which is reported to hold option-related support. Bulls need a close above the
50-dma at 0.7289 to improve the short-term outlook and attempt to mount a
reversal.

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.