Free Trial

The Aussie complex struggled overnight.......>

AUSSIE
AUSSIE: The Aussie complex struggled overnight after the release of soft AU NAB
Business Conditions and Confidence data.
- AUDUSD holds toward the base of its $0.6953-75 range at the European
crossover. Near-term support remains on approach to $0.6950 which holds the
50-dma & Jun 26 low, below here opens the cloud base & 50% retracement of the
Jun-Jul rally at $0.6946/40.
- AUDCAD touched pullback lows of C$0.9112. Bears focus on a break of the key
double bottom support area around C$0.9105 from the Jun 21 & Oct 4 2018 lows,
expect further support behind and on approach to the C$0.91 handle.
- EURAUD currently rests on resistance from the 38.2% retracement of the 2019
range at A$1.6121. A clean break opens the Jul3 high & 50-dma at A$1.6166/67.

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.