Free Trial

Loss Of $0.7412-$0.7390 Support........>

AUSSIE TECHS
AUSSIE TECHS: Loss Of $0.7412-$0.7390 Support Opens Door To $0.7333-$0.7327
*RES 4: $0.7529 Jun 13 low, now resistance
*RES 3: $0.7481 Jun 15 high
*RES 2: $0.7428/30 Intraday high, hourly resistance
*RES 1: $0.7412 May 9 low, now resistance
*PRICE: $0.7368 @0907GMT 
*SUP 1: $0.7355 Intraday low
*SUP 2: $0.7327/33 61.8% of $0.6827-$0.8136, May 9 2017 low
*SUP 3: $0.7269 2018 bear channel base projection
*SUP 4: $0.7248 1.618 swing of $0.7412-$0.7677
*COMMENTARY* Has continued to fall today, losing support from the May 9 low at
$0.7412 and then the 76.4% Fibo at $0.7390. A low of $0.7355 so far, as we head
towards the next area of support between the May 9 2017 low at $0.7333 and the
longer term Fibo retrace level at $0.7327. These currently protecting against a
deeper $0.7269-$0.7248 fall. In the interim, $0.7412-$0.7430 provides a near
term bar to any attempt at a recovery.

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.