Free Trial

Support lies at 0.6822: *RES 4:........>

AUSSIE TECHS
AUSSIE TECHS: Support lies at 0.6822:
*RES 4: 0.6955 High Jull 26
*RES 3: 0.6927 61.8% retracement Jul 19 - Aug 7 sell-off
*RES 2: 0.6911 Low Jul 7
*RES 1: 0.6895 High Sep 12
*PRICE: 0.6835 @ 05:00 GMT Sep 17
*SUP 1: 0.6822 High Aug 8 and former breakout level
*SUP 2: 0.6794 Low Sep 5
*SUP 3: 0.6755 61.8% retracement of Sep 3 - Sep 12 rally
*SUP 4: 0.6755 Low Sep 4
AUDUSD extends yesterday's retracement. The pair maintains a positive outlook
despite this pullback. A break of the Sep 12 high of 0.6895 would confirm a
resumption of the uptrend. The next objective is the 61.8% retracement of Jul 19
- Aug 7 decline at 0.6927. Momentum studies continue to point north highlighting
the bullish tone. On the downside, the focus is on support at 0.6822, Aug 8 high
and former breakout level to limit the current pullback.

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.