Free Trial

Still heavy as bears remain in.........>

AUSSIE TECHS
AUSSIE TECHS: Still heavy as bears remain in charge:
*RES 4: 0.7022 High Jun 7 and key resistance
*RES 3: 0.6966 High Jun 11
*RES 2: 0.6925 20-day EMA
*RES 1: 0.6864 Low May 17 and former support
*PRICE: 0.6839 @ 08:36 GMT June 18
*SUP 1: 0.6800 Round number support
*SUP 2: 0.6754 Bear channel base
*SUP 3: 0.6744 Low Jan 3
*SUP 4: 0.6700 Round number support
AUDUSD remains under pressure. The recent breach of support at 0.6864 has
confirmed a
resumption of the downtrend with scope seen for weakness towards 0.6800. This
year's low of 0.6745 is now also within reach. Momentum studies remain is a bear
mode for now, reinforces the underlying downtrend conditions. Look for Aussie
weakness to extend.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.