Free Trial

Trendline Support Cleared *RES 4:......>

AUSSIE TECHS
AUSSIE TECHS: Trendline Support Cleared
*RES 4: 0.6943 High Jan 7
*RES 3: 0.6934 High Jan 16 and key near-term level
*RES 2: 0.6879 High Jan 23
*RES 1: 0.6835 Former trendline support
*PRICE: 0.6802 @ 06:16 GMT Jan 27
*SUP 1: 0.6754 Low Nov 29 and key support
*SUP 2: 0.6724 Low Oct 16
*SUP 3: 0.6710 Low Oct 10
*SUP 4: o.6702 Low Oct 3
AUDUSD remains under pressure. The pair has traded lower overnight and confirmed
a clear break of trendline support drawn off the Oct 2 low. The trendline was
breached Friday at the 0.6833 level. The breach confirms a resumption of
January's bearish theme and also highlights a potentially more significant
reversal. 0.6800, the Dec 10 low has been tested and scope is also seen for a
move to the Nov 29 low of 0.6754. Initial resistance is at 0.6835.

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.