Free Trial

Finds Support *RES 4: 0.6879 High......>

AUSSIE TECHS
AUSSIE TECHS: Finds Support
*RES 4: 0.6879 High Jan 23
*RES 3: 0.6822 Trendline resistance drawn off the Jan 2 high
*RES 2: 0.6777 High Jan 29
*RES 1: 0.6734 High Feb 4
*PRICE: 0.6730 @ 16:47 GMT Feb 4
*SUP 1: 0.6679 Intraday low
*SUP 3: 0.6671 Low Oct 2 and primary support
*SUP 2: 0.6659 1.50 projection of Dec 31 - Jan 8 decline from Jan 16 high
*SUP 4: 0.6657 2.0% 10-dma envelope
AUDUSD appears to have finally found support. The pair maintains a weaker tone
though with attention still on last year's lows of 0.6677/71, the Aug 7 and Oct
2 lows respectively. Bearish conditions dominate following the impulsive move
lower In January and the recent break of trendline support drawn off the Oct 2
low. A break of 0.6671 would further reinforce current bearish conditions. Firm
resistance is at 0.6777, Jan 29 low.

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.