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Close above 0.6900 needed to...........>

AUSSIE TECHS
MNI (London)
AUSSIE TECHS: Close above 0.6900 needed to threaten bears:
*RES 4: 0.7022 High Jun 7 and key resistance
*RES 3: 0.6988 50-DMA
*RES 2: 0.6966 High Jun 11
*RES 1: 0.6924 20-day EMA
*PRICE: 0.6890 @ 15:08 GMT June 20
*SUP 1: 0.6832 Low Jun 18
*SUP 2: 0.6800 Round number support
*SUP 3: 0.6744 Low Jan 3
*SUP 4: 0.6740 Bear channel base
AUDUSD has thus far failed to establish itself above the 0.6900 level. For now
the bearish case remains the stronger argument following this week's breach of
the May lows. Further Aussie downside is favoured and the focus is on Tuesday's
low of 0.6832. A break would confirm a resumption of the bearish trend and
expose this year's low of 0.6745 which is now also within reach. Momentum
studies remain bearish.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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