Free Trial

Firmer *RES 4: 0.6985 76.4%............>

AUSSIE TECHS
AUSSIE TECHS: Firmer
*RES 4: 0.6985 76.4% retracement of Jul 19 - Oct 2 decline
*RES 3: 0.6955 High Jul 26
*RES 2: 0.6939 High Dec 13 and key resistance
*RES 1: 0.6913 Intraday high
*PRICE: 0.6921 @ 10:34 GMT Dec 23
*SUP 1: 0.6838 Low Dec 17 and key intraday support
*SUP 2: 0.6800 Low Dec 10
*SUP 3: 0.6754/52 Low Nov 29 / Low Oct 17 and key support
*SUP 4: 0.6724 Low Oct 16
AUDUSD is bullish. Trendline support, drawn off the Dec 2 low held last
Wednesday. In terms of candle signals, the candle pattern on Dec 18 is a doji. A
doji is regarded as a reliable signal in identifying the end of a correction and
in this instance suggests the Dec 13 - Dec 17 pullback has run its course. The
fact that trendline support held reinforces the pattern. Also, the subsequent
recovery is encouraging for bulls. Attention is on 0.6939, support is at 0.6838.

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.