Free Trial

Trendline support breached: *RES 4: 0.7103...>

AUSSIE
AUSSIE: Trendline support breached:
*RES 4: 0.7103 High Apr 24
*RES 3: 0.7082/7088 High Jul 19 / 200-dma
*RES 2: 0.7015/36 100-dma / High Jul 23
*RES 1: 0.6984 High Jul 25
*PRICE: 0.6945 @ 04:54 GMT July 26
*SUP 1: 0.6931/28 2% lower Bollinger band / cloud base
*SUP 2: 0.6927 61.8% retracement of the Jun 18-Jul 19 rally
*SUP 3: 0.6911 Low Jul 10
*SUP 4: 0.6891 61.8% retracement of the Jun 18-Jul 19 rally
The correction in AUDUSD through 0.7000 and break of trendline support drawn off
the Jun 18 low weakens the near-term outlook. This signals scope for a deeper
correction toward the 61.8% retracement level & Jul 10 low at 0.6927/11.
Clearance of this support zone would open 0.6891, the 76.4% retracement. Bulls
need to recover 0.7036 to change the outlook, opening the potential for a return
to the Jul 19 high & 200-dma.

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.