Free Trial

Bulls Need Close Above $0.7963 *RES....>

AUSSIE TECHS
AUSSIE TECHS: Bulls Need Close Above $0.7963
*RES 4: $0.8044 - High Aug 1
*RES 3: $0.7998 - Hourly resistance Aug 1
*RES 2: $0.7963 - High Aug 17
*RES 1: $0.7929 - Hourly resistance Aug 22
*PRICE: $0.7891 @ 0210GMT
*SUP 1: $0.7867 - Hourly resistance Aug 16a now support 
*SUP 2: $0.7855 - Daily Bull channel base 
*SUP 3: $0.7849 - Hourly support Aug 16 
*SUP 4: $0.7807 - Low Aug 15
*COMMENTARY: The lack of topside follow through on the break of $0.7949 last
week was less than ideal for bulls. The $0.7867 support remains key this week
with bears needing a close below to confirm an easing of bullish pressure and
shift focus back to $0.7749-0.7809 where the 55-DMA ($0.7767) is noted. Bulls
still need a close above $0.7963 to shift focus back to $0.8044-65 where 2017
highs are found.

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.