Free Trial

Still Suffering Effects of.............>

AUSSIE TECHS
AUSSIE TECHS: Still Suffering Effects of Wednesday's Bearish 'Outside Day'
*RES 4: $0.8066 Jul 27 high
*RES 3: $0.8021/23 Swing and equality rise targets
*RES 2: $0.8005/15 76.4% of $0.8066-$0.7808, 1% vol band
*RES 1: $0.7996 Aug 30 high
*PRICE: $0.7971 @1155GMT 
*SUP 1: $0.7942 Sep 4 low
*SUP 2: $0.7922 Sep 1 low
*SUP 3: $0.7900 Hourly congestion Aug 30-31
*SUP 4: $0.7866/71 Aug 24, Aug 31 lows
*COMMENTARY*  A high of $0.7996 last Wednesday, shy of the 76.4% retrace level
and the upper 1% volatility band between $0.8005-$0.8015. The subsequent fall
and close below $0.7922 created a potentially bearish 'outside day' on the daily
chart. That said, support from between $0.7866-$0.7851 has survived attention so
far. Loss of the latter would be a concern and suggest a deeper correction of
gains from the May low at $0.7333. Above $0.8015 and look to $0.8021-$0.8066.

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.