Free Trial

Comfortably clear of the 100-dma:......>

AUSSIE TECHS
AUSSIE TECHS: Comfortably clear of the 100-dma:
*RES 4: 0.7103 High Apr 24
*RES 3: 0.7092 200-dma
*RES 2: 0.7069 High Apr 30
*RES 1: 0.7048 High Jul 4 & High May 7 and key resistance
*PRICE: 0.7030 @ 09:07 GMT July 16
*SUP 1: 0.6988/71 200-hma/Low Jul 12
*SUP 2: 0.6954/51 Low Jul 11 / 50-dma
*SUP 3: 0.6911/6898 Low Jul 10 / Former bear channel resistance
*SUP 4: 0.6879 Low Jun 20
AUDUSD closed above its 100-dma yesterday for the first time since mid-April,
further cementing the bullish tone. The strong rebound last week off the low of
Jul 10 is gathering strength with momentum studies trending higher too. The
recovery is significant as it marked a bullish reaction off the former channel
top drawn off the Apr 17 high and the 61.8% retracement of the rally between Jun
18-Jul 4. The focus is now on the 0.7048 bull trigger. Support lies at 0.6971.

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.