Free Trial

Needle Points North *RES 4: 0.6800.....>

AUSSIE TECHS
AUSSIE TECHS: Needle Points North
*RES 4: 0.6800 Round number resistance
*RES 3: 0.6774 High May 5
*RES 2: 0.6685/94 High Mar 9 and a key resistance / 2.0% 10-dma envelope
*RES 1: 0.6680 High May 27
*PRICE: 0.6649 @ 06:24 BST May 29
*SUP 1: 0.6538 Low May 26
*SUP 2: 0.6506 Low May 22 and key support
*SUP 3: 0.6447 50-day EMA
*SUP 4: 0.6402 Low May 15
AUDUSD is consolidating but maintains a bullish focus. The pair briefly topped
the 2.0% 10-dma envelope resistance Tuesday, firming the recent rally with the
break above 0.6616, May 20 high this week also confirming a resumption of the
uptrend and the positive price sequence of higher highs and higher lows. The
focus is on 0.6684/85, a Fibonacci projection and Mar 9 high. Firm support has
been defined at 0.6506, May 22 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.