Free Trial

Closing In On Key Resistance *RES 4:...>

AUSSIE TECHS
AUSSIE TECHS: Closing In On Key Resistance
*RES 4: 0.7119 1.618 projection of Mar 19 - 31 rally from Apr 3 low
*RES 3: 0.7082 High Jul 19, 2019
*RES 2: 0.7032 High Dec 31, 2019 and key resistance
*RES 1: 0.7013 Intraday high
*PRICE: 0.6977 @ 10:47 BST Jun 5
*SUP 1: 0.6857 Low Jun 3
*SUP 2: 0.6775 Low Jun 2
*SUP 3: 0.6653 20-day EMA
*SUP 4: 0.6646 Low Jun 1
AUDUSD maintains its bullish theme. With a bullish price sequence of higher
highs and higher lows intact, attention is on key resistance at 0.7032, Dec 31
2019 high. A break of this level would once again confirm a resumption of the
bull trend and open 0.7082, Jul 19 2019 high. Momentum studies remain positive
but note that the indicator is in overbought territory. Firm support is at
Tuesday's low of 0.6775.

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.