Free Trial

Recovery depends on 0.6950: *RES 4:....>

AUSSIE TECHS: Recovery depends on 0.6950:
*RES 4: 0.7022 High Jun 7 and key resistance
*RES 3: 0.6988 50-DMA
*RES 2: 0.6966 High Jun 11
*RES 1: 0.6924 20-day EMA
*PRICE: 0.6916 @ 15:58 GMT June 20
*SUP 1: 0.6832 Low Jun 18
*SUP 2: 0.6800 Round number support
*SUP 3: 0.6744 Low Jan 3
*SUP 4: 0.6740 Bear channel base
AUDUSD recovered further Thursday, topping the 20-day EMA before momentum
faltered slightly and the pair returned to more neutral levels. For this
recovery to persist, markets need to push and close above 0.6950, but the 0.69
handle will help also. Should momentum flag further, Tuesday's low sits at
0.6832 and a break here would confirm a resumption of the bearish trend and
expose this year's low at 0.6745.

To read the full story



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.