Free Trial

Tight Range Still Holding AUDUSD has...>

AUSSIE TECHS
AUSSIE TECHS: Tight Range Still Holding
AUDUSD has taken out Friday's low, dropping to 0.7088 in Asian trading and
continues to challenge the 61.8% retracement from October's highs to Oct 5 lows
at 0.7085. This leaves AUDUSD having traded in a tight range since Oct 11. A
close below 0.7085 would shift the focus to the downside and the Oct 8 low at
0.7041. Below here challenges the key 0.70 level and a break would likely
accelerate the broader downside move, opening channel base support & Jan 26 2016
low at 0.6920/19. Bulls need to recover the Oct 17 high at 0.7160 to improve the
outlook and target 0.7200 and the bear channel top.

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.