Free Trial

Pullback Still Weighs *RES 4: 0.6614...>

AUSSIE TECHS
AUSSIE TECHS: Pullback Still Weighs
*RES 4: 0.6614 100-dma
*RES 3: 0.6518 0.764 projection of Mar 19 - 31 rally from Apr 3 low
*RES 2: 0.6492 High Mar 12
*RES 1: 0.6445 High Apr 14
*PRICE: 0.6302 @ 16:58 BST Apr 16
*SUP 1: 0.6264 Intraday low
*SUP 2: 0.6214 Mar 31 high and former breakout level
*SUP 3: 0.6116 Low Apr 8
*SUP 4: 0.6076 Low Apr 7
AUDUSD is under pressure. Wednesday's sharp sell-off has defined a key S/T
resistance at 0.6445, the Tuesday high. The move lower Wednesday displayed an
impulsive character and potentially signals a reversal of the recent rally since
Mar 19. The next key support is 0.6214, Mar 31 high and the recent bull trigger.
A break would open 0.6116, Apr 8 low. The Aussie needs to trade above 0.6445 to
reinstate a bullish theme.

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.