Free Trial

Rally Reaches And Falters At 76.4%.....>

AUSSIE TECHS
AUSSIE TECHS: Rally Reaches And Falters At 76.4% Fibo Retrace Level
*RES 4: $0.8059 Sep 11 high
*RES 3: $0.8039 Max 5th wave target in rise from $0.7502
*RES 2: $0.7995/00 Hourly resistance
*RES 1: $0.7979 76.4% $0.8126-$0.7502, Jan 15 high
*PRICE: $0.7956 @0853GMT 
*SUP 1: $0.7918/28 Hourly support
*SUP 2: $0.7903/05 Hourly low/high Jan 12
*SUP 3: $0.7875 Congestion area Jan 11-12
*SUP 4: $0.7848 Jan 12 low
*COMMENTARY* Found support from $0.7808 last week. The subsequent move back
above the year's $0.7875 high, has now seen a further rise through congested
$0.7916-$0.7924 resistance and a test to the 76.4% Fibo resistance level at
$0.7979. Through here is currently needed to inject more enthusiasm into the
recovery. Meanwhile, support comes from $0.7928-$0.7903, above the latter keeps
recent upside momentum in place.

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.