Free Trial

Correction Aims To Test................>

AUSSIE TECHS
AUSSIE TECHS: Correction Aims To Test $0.7987-$0.7992 Next
*RES 4: $0.8041/47 Feb 2 high, 76.4% Fibo of $0.8136-$0.7759
*RES 3: $0.8028 2% volatility band
*RES 2: $0.7987/92 Feb 1 low, 61.8% Fibo of $0.8136-$0.7759
*RES 1: $0.7967 Intraday high
*PRICE: $0.7908 @1635GMT 
*SUP 1: $0.7890 Initial recovery highs Feb 14, now support
*SUP 2: $0.7860/65 Hourly high/low Feb 14
*SUP 3: $0.7828/38 Hourly congestion Feb 12-13
*SUP 4: $0.7809 Feb 12 low
*COMMENTARY* Had to endure a deep $0.7773 setback on Wednesday, before once
again finding the ability to rally, from above stronger $0.7759-Stg0.7744
support. Have subsequently seen a move back above $0.7890-$0.7911 resistance,
this improves chances of a higher correction of recent losses from $0.8136,
beginning with $0.7987-$0.7992. Meantime, 0.7890 supports against any fresh
downside interest.

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.