Free Trial

Holding Above 0.6838-48 Support *RES...>

AUSSIE TECHS
AUSSIE TECHS: Holding Above 0.6838-48 Support
*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: 0.6904 Low Dec 25
*PRICE: 0.6880 @ 06:11 GMT Jan 10
*SUP 1: 0.6849 Low Jan 8/9
*SUP 2: 0.6838 Low Dec 17 and key support
*SUP 3: 0.6813 Trendline support drawn off the Oct 2 low
*SUP 4: 0.6800 Low Dec 10
AUDUSD has traded higher overnight. Bulls though are not out of the woods yet.
The pair this week traded through support at 0.6904, Dec 25 low to further
undermine the recent bullish outlook. The breach of this support opens 0.6838
Dec 17 low. Note, there is also a volatility-based support seen at the 0.6848
level. If the current pullback is a correction, the 0.6838-48 zone would need to
hold to avoid a deeper sell-off. 0.6943 is the first key resistance.

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.