Free Trial

Grinding Lower Gradually More of the...>

AUSSIE TECHS
AUSSIE TECHS: Grinding Lower Gradually
More of the same for AUDUSD as the gradual grind lower continues, keeping the
focus on the Oct 8 low at 0.7041. Below here would see AUDUSD trading at its
lowest level since early 2016 as the 0.70 level comes into play. A break below
0.70 would likely accelerate the broader downside move, opening channel base
support & Jan 26 2016 low at 0.6920/19. Bulls need to recover the Oct 17 high at
0.7160 to improve the outlook and target 0.7200 and the bear channel top.

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.