Free Trial

Eyes On Key Supports *RES 4: 0.7032....>

AUSSIE TECHS
AUSSIE TECHS: Eyes On Key Supports
*RES 4: 0.7032 High Dec 31 and bull trigger
*RES 3: 0.6995 High Jan 3
*RES 2: 0.6943 High Jan 7
*RES 1: 0.6934 High Jan 16
*PRICE: 0.6876 @ 17:34 GMT Jan 17
*SUP 1: 0.6849 Low Jan 8 and key support
*SUP 2: 0.6838 Low Dec 17 and a volatility based support
*SUP 3: 0.6825 Trendline support drawn off the Oct 2 low
*SUP 4: 0.6800 Low Dec 10
AUD/USD was offered Friday. The pair is seen likely to remain vulnerable
near-term at least until 0.6943 resistance is cleared, the Jan 7 high. This
outlook follows the sell-off that has dominated since Dec 31. Scope is seen for
a move towards 0.6838, the Dec 17 low. We still see a volatility-based support
at 0.6848. If the sell-off this month is a correction, 0.6838-48 would need to
remain intact to avoid a deeper sell-off. Note, trendline support is at 0.6825.

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.