Free Trial

Pivotal $0.7963-67 Resistance Comes....>

AUSSIE TECHS
AUSSIE TECHS: Pivotal $0.7963-67 Resistance Comes Back Into View
*RES 4: $0.8066/68 Jul 27 high, 2% volatility band
*RES 3: $0.8021/23 Swing and equality rise targets
*RES 2: $0.8005 76.4% Fibo of $0.8066-$0.7808
*RES 1: $0.7963/67 Aug 17 high, 61.8% of $0.8066-$0.7808
*PRICE: $0.7944 @1207GMT 
*SUP 1: $0.7890/00 Hourly support
*SUP 2: $0.7866/70 Aug 24, Aug 17 lows
*SUP 3: $0.7845 Aug 14 low
*SUP 4: $0.7800/19 50% Fibo, Aug 15 low, 1% volatility band  
*COMMENTARY*  Recovery from the month's fall to the top of the $0.7810-$0.7800
support area has been followed by a bounce towards the 61.8% Fibo retrace level
at $0.7967. The subsequent pullback has tested near term support from between
$0.7870-$0.7845 but now needs to sustain a move back above that $0.7967 level to
renew upside impetus for a further $0.8005-$0.8023 rise. Loss of $0.7845 will
disappoint now and direct attention lower again.

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.