Free Trial

Bulls Target 0.7000 AUDUSD.............>

AUSSIE TECHS
AUSSIE TECHS: Bulls Target 0.7000
AUDUSD benefitted from broad based dollar sales yesterday to extend the recovery
towards the 0.7000 level. A break above here would open the 55-dma at 0.7035 and
the May 7 high at 0.7048. Down trendline resistance from the Dec highs and the
200-dma would come into play above here. Bears look to break back below the
21-dma at 0.6934 to return the focus to the downside. Below here would open the
range lows at 0.6865 ahead of the 0.6825/40 area which registered a series of
previous lows through Jan 2016.

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.