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Free AccessStruggling To Recover 0.70 AUDUSD......>
AUSSIE TECHS: Struggling To Recover 0.70
AUDUSD sits just below the 0.70 level at the time of writing, keeping the focus
to the downside. Today's close is likely to be key though given the RBA's
closely watched rate meeting and a close above 0.70 would allow the focus to
return to 0.7069, the 0.71 level and the 55-dma. A break above the 200-dma at
0.7166 is needed to suggest a bullish reversal. On the downside a close below
the 0.70 mark today would strengthen the downtrend. Below here lies 0.6953
marking the 61.8% fibo of the Jan rise ahead of the 0.69 level.
To read the full story
Sign up now for free trial access to this content.
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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.