Free Trial

Lacking direction for now: *RES 4:.....>

AUSSIE TECHS
AUSSIE TECHS: Lacking direction for now:
*RES 4: 0.6880 50% of Jul 19-Aug 7 sell-off
*RES 3: 0.6822 High Aug 8 and key resistance
*RES 2: 0.6799 High Aug 21
*RES 1: 0.6788 High Aug 26
*PRICE: 0.6726 @ 05:14 GMT Sep 2
*SUP 1: 0.6690 Low Aug 26
*SUP 2: 0.6677 YTD low and key support
*SUP 3: 0.6600 Round number support
*SUP 4: 0.6567 Low Mar 18 2009
AUDUSD remains softer having failed to follow through on the strong gains seen
last Monday. Activity since Aug 7 has defined directional parameters at 0.6677
and 0.6822. A break below 0.6677 would confirm a resumption of the downtrend,
opening 0.6600 initially. Directional indicators remain bearish so for now. For
bulls though, a break of 0.6822, the high of Aug 8, would instead signal a
potential trend reversal and open 0.6880 initially.

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.