Free Trial

Moderating, But Still Bullish

AUSSIE TECHS
  • RES 4: 0.7388 2.00 projection of Mar 19 - 31 rally from Apr 3 low
  • RES 3: 0.7295 High Jan 2019
  • RES 2: 0.7284 High Feb 2019
  • RES 1: 0.7241/43 High Aug 5 / 7
  • PRICE: 0.7164 @ 17:20 BST Aug 7
  • SUP 1: 0.7077 Low Aug 3
  • SUP 2: 0.7064 Low Jul 24 and key near-term trend support
  • SUP 3: 0.7010 Low Jul 21
  • SUP 4: 0.6963 Low Jul 16

After topping 0.7227 mid-week, prices faded into the Friday close, relieving some of the signs of bullish exhaustion evident in the still high RSI. The week's move opened a further leg higher, which eyes levels not seen since early 2019. Bulls look to 0.7284 and 0.7295 for direction. On the downside, key near-term trend support has been defined at 0.7064, Jul 24 low.

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.