Free Trial

Embryonic Recovery After Hold Of.......>

AUSSIE TECHS
AUSSIE TECHS: Embryonic Recovery After Hold Of $0.7525-$0.7520 Support
*RES 4: $0.7759 38.2% Fibo of $8126-$0.7532
*RES 3: $0.7730/33 Nov 2 high, Oct 6 low
*RES 2: $0.7680/85 Congestion area Nov 8-10
*RES 1: $0.7650/55 Nov 14 high, hourly resistance
*PRICE: $0.7633 @1105GMT 
*SUP 1: $0.7595/05 Hourly support
*SUP 2: $0.7555 Nov 22 low
*SUP 3: $0.7532 Nov 21 low
*SUP 4: $0.7520/25 76.4% of $0.7333-$0.8126, 1% vol band
*COMMENTARY* Continued to try and push lower for the early part of the week but
found it increasingly difficult to deal with support from above the lower 1%
volatility band and the 76.4% Fibo retrace level between $0.7525-$0.7520. After
a slow start, has finally overcome $0.7590, this sees $0.7650-55 as next
resistance, $0.7680-85 above. If this recovery is a serious correction of losses
from the year's $0.8126 high, then will need to sustain a break above here.

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.