Free Trial

EGB Supply For W/C June 20, 2022 (2/2)

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
AUSSIE TECHS: Still Vulnerable Despite Today's Bounce
*RES 4: 0.6659 Trendline resistance drawn off the Jan 2 high
*RES 3: 0.6639 High Feb 21
*RES 2: 0.6607 High Feb 26
*RES 1: 0.6585 High Feb 28
*PRICE: 0.6528 @ 17:15 GMT Mar 2
*SUP 1: 0.6434 Low Feb 28
*SUP 2: 0.6422 1.382 projection of Jan 16 - Feb 4 decline from Feb 5 high
*SUP 3: 0.6417 3.0% 10-dma envelope
*SUP 4: 0.6392 1.50 projection of Jan 16 - Feb 4 decline from Feb 5 high
AUDUSD is off Friday's lows but remains vulnerable. The pair traded to a fresh
low of 0.6434 Friday to further reinforce current bearish conditions. Further
weakness is anticipated with the focus on 0.6422 and 0.6392 next, both Fibonacci
projections. While it may appear far away for now, the pace of the current slide
warns of a move down to the next major support at 0.6009, the 2008 low. Initial
resistance is at 0.6585, Friday's high.

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.