Free Trial

Trendline Support Under Pressure.......>

AUSSIE TECHS
AUSSIE TECHS: Trendline Support Under Pressure
*RES 4: 0.6985 76.4% retracement of Jul 19 - Oct 2 decline
*RES 3: 0.6943 200-DMA
*RES 2: 0.6930 High Oct 31 and bull trigger
*RES 1: 0.6906 High Nov 8
*PRICE: 0.6827 @ 10:46 GMT Nov 13
*SUP 1: 0.6824 Intraday low
*SUP 1: 0.6801 50% retracement of Oct 2 - Oct 31 rally
*SUP 3: 0.6752 Low Oct 17
*SUP 4: 0.6724 Low Oct 16
The AUDUSD focus remains on the trendline support drawn off Oct 2 low that
intersects at 0.6830. This line has been probed this morning with the Aussie
managing a low print of 0.6824. A clear break of this trendline would represent
a short-term bearish development and signal scope for a deeper pullback opening
0.6809/01 initially. A failure to follow through lower and a move above 0.6900
is need to suggest a resumption of strength.

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.