Free Trial

Trendline Splintering *RES 4: 0.6995...>

AUSSIE TECHS
AUSSIE TECHS: Trendline Splintering
*RES 4: 0.6995 High Jan 3
*RES 3: 0.6943 High Jan 7
*RES 2: 0.6934 High Jan 16 and key near-term level
*RES 1: 0.6889 High Jan 20
*PRICE: 0.6834 @ 16:59 GMT Jan 23
*SUP 1: 0.6827 Low Jan 22
*SUP 2: 0.6820 76.4% retracement of the Nov 29 - Dec 31 rally
*SUP 3: 0.6800 Low Dec 10
*SUP 4: 0.6754 Low Nov 29
AUDUSD completely reversed the day's gains ahead of the close, managing to
finish the session in negative territory and negating any positive signals in
the process. Key trendline support at 0.6829 is coming under pressure, and bears
eye a clean close below to open further losses. Focus would turn to 0.6800, Dec
10 low and potentially the Nov 29 low of 0.6754.

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.