Free Trial

Close above 0.69 needed to repair......>

AUSSIE TECHS
AUSSIE TECHS: Close above 0.69 needed to repair damage:
*RES 3: 0.6988 50-DMA
*RES 2: 0.6966 High Jun 11
*RES 1: 0.6924 20-day EMA
*PRICE: 0.6883 @ 19:18 GMT June 19
*SUP 1: 0.6832 Low Jun 18
*SUP 2: 0.6800 Round number support
*SUP 3: 0.6754 Bear channel base
While the Fed decision extended the recovery from the lows for a second session,
allowing AUDUSD to pop above 0.69, a close north of this mark is needed to
materially change the picture. This recovery may not last as rallies were easily
sold post-Fed, keeping 0.6832 nearby and critical to the outlook. This year's
low of 0.6745 is now also within reach. Momentum studies remain bearish for now,
reinforcing the underlying downtrend conditions. Look for Aussie weakness to
extend.

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.