Free Trial

Challenging Key 0.70 Level Soft US.....>

AUSSIE TECHS
AUSSIE TECHS: Challenging Key 0.70 Level
Soft US jobs data triggered fresh dollar sales, this boosted AUDUSD to the
0.7000/10 area, which has so far proved hard to overcome. Bulls need a weekly
close above here to reignite upside momentum, opening a run at the May 10 high &
50% fibo of the Apr-May fall at 0.7019/29. Further resistance is located at
0.7069/71 from the Apr 30 high & 100-dma. Bears downside focus remains on a
break of the 21-dma & Jun 3 low at 0.6932/27. Below here opens a return to 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.