Free Trial

Corrective Mode *RES 4: 0.7103 High....>

AUSSIE TECHS
AUSSIE TECHS: Corrective Mode
*RES 4: 0.7103 High Apr 24
*RES 3: 0.7082 High Jul 19 and key resistance
*RES 2: 0.7032 High Dec 31 and bull trigger
*RES 1: 0.6995 Intraday high
*PRICE: 0.6961 @ 06:19 GMT Jan 3
*SUP 1: 0.6939 High Dec 13 and former breakout level
*SUP 2: 0.6904 Low Dec 25
*SUP 3: 0.6883 Low Dec 20
*SUP 4: 0.6838 Low Dec 17 and key support
AUDUSD is under pressure this morning too as the pullback off the recent high of
0.7032 extends. The move lower is likely a correction with the broader outlook
still bullish. Strong gains over December reinforced the bullish theme. The
rally cleared the former key resistance at 0.6939, Dec 13 high to confirm a
resumption of the uptrend and also reinforce what appears to be a broader base
that has been developing since August. Initial support is seen at 0.6939.

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.