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Free AccessMNI BRIEF: BOJ Tankan To Show Slipping Sentiment
MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday
Pierces The 50-Day EMA
- RES 4: 0.6976 2.00 proj of the Oct 13 - 27 - Nov 3 price swing
- RES 3: 0.6956 High Aug 30
- RES 2: 0.6909 76.4% retracement of the Aug 11 - Oct 13 downleg
- RES 1: 0.6744/6893 Intraday high / High Dec 13 and the bull trigger
- PRICE: 0.6663 @ 16:44 GMT Dec 20
- SUP 1: 0.6629 Low Dec 20
- SUP 2: 0.6585 Low Nov 21 and a key short-term support
- SUP 3: 0.6531 50.0% retracement of the Oct 13 - Dec 13 climb
- SUP 4: 0.6500 Round number support
A sharp sell-off in AUDUSD last Thursday signalled a S/T top and today’s move lower has reinforced this turn. The 20-day EMA has been cleared and attention is on the 50-day EMA at 0.6661 - this average has been pierced today. A clear break would suggest potential for a deeper retracement towards 0.6585, the Nov 21 low. On the upside, key resistance has been defined at 0.6893, Dec 13 high. A break would resume the recent uptrend.
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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.