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Free AccessTrendline Support Cleared *RES 4:......>
AUSSIE TECHS: Trendline Support Cleared
*RES 4: 0.6943 200-DMA
*RES 3: 0.6930 High Oct 31 and bull trigger
*RES 2: 0.6906 High Nov 8
*RES 1: 0.6841 Intraday high
*PRICE: 0.6802 @ 06:05 GMT Nov 14
*SUP 1: 0.6796 Intraday low
*SUP 1: 0.6770 61.8% retracement of Oct 2 - Oct 31 rally
*SUP 3: 0.6752 Low Oct 17
*SUP 4: 0.6724 Low Oct 16
AUDUSD has started Thursday's session on a soft note trading sharply lower
overnight. The key technical development has been the breach of trendline
support at 0.6830, drawn off the Oct 2 low. The clear break of this trendline
represents a short-term bearish development and signals scope for a deeper
pullback potentially towards 0.6770 next, the 61.8% retracement of the rally
between Oct 2 and Oct 31. Initial resistance is today's intraday high of 0.6841.
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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.