Free Trial

Edging lower within its range: *RES....>

AUSSIE TECHS
AUSSIE TECHS: Edging lower within its range:
*RES 4: 0.6880 50% of Jul 19-Aug 7 sell-off
*RES 3: 0.6822 High Aug 8 and key resistance
*RES 2: 0.6799 High Aug 21
*RES 1: 0.6788 High Aug 26
*PRICE: 0.6717 @ 05:01 GMT Aug 30
*SUP 1: 0.6690 Low Aug 26
*SUP 2: 0.6677 YTD low and key support
*SUP 3: 0.6600 Round number support
*SUP 4: 0.6567 Low Mar 18 2009
Following the bullish close Monday, AUDUSD continues to give back some of those
gains, preventing any major upside breakout for now. Activity since Aug 7 has
clearly defined directional parameters at 0.6677 and 0.6822. A break below
0.6677 would confirm a resumption of the downtrend, opening 0.6600 initially.
For bulls, a break of 0.6822, the high of Aug 8, would signal a trend reversal
and open 0.6880 initially.

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.