Free Trial

Holding Above 0.6838-48 Support Zone...>

AUSSIE TECHS
AUSSIE TECHS: Holding Above 0.6838-48 Support Zone
*RES 4: 0.7082 High Jul 19 and key resistance
*RES 3: 0.7032 High Dec 31 and bull trigger
*RES 2: 0.6995 High Jan 3
*RES 1: 0.6943 High Jan 7
*PRICE: 0.6852 @ 16:19 GMT Jan 9
*SUP 1: 0.6849 Low Jan 8/9
*SUP 2: 0.6838 Low Dec 17 and key support
*SUP 3: 0.6811 Trendline support drawn off the Oct 2 low
*SUP 4: 0.6800 Low Dec 10
AUDUSD is a touch weaker and remains vulnerable. The pair has this week traded
through support at 0.6904, Dec 25 low to further undermine the recent bullish
outlook. The breach of this support opens key support at the 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 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.