Free Trial

Resistance From $0.8020-30 Keeps.......>

AUSSIE TECHS
AUSSIE TECHS: Resistance From $0.8020-30 Keeps Immediate Focus Lower
*RES 4: $0.8126 Sep 8 high
*RES 3: $0.8082 Initial pullback low Sep 8, now resistance 
*RES 2: $0.8049 Sep 12 high
*RES 1: $0.8020/30 Hourly resistance
*PRICE: $0.7990 @1224GMT 
*SUP 1: $0.7963/71 Sep 6, Sep 13 lows
*SUP 2: $0.7949 4 month rising support line
*SUP 3: $0.7922 1% volatility band, Sep 1 low
*SUP 4: $0.7866/71 Aug 24, Aug 31 lows
*COMMENTARY* Headed through the top of the 4 week bull channel last week and
found the strength to eclipse the year's previous $0.8066 high. Reached $0.8126
before submitting to some overbought conditions. Lost $0.8050-$0.8040 support on
Tuesday and Wednesday from the key $0.7996 level. Below here cautions now, next
support from $0.7963 and the 4 month support line at $0.7949 but $0.7922 is the
new key area. Resistance currently from between $0.8020-$0.8049.

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.