Free Trial

Under Pressure: *RES 4: 0.6870 High....>

AUSSIE TECHS
AUSSIE TECHS: Under Pressure:
*RES 4: 0.6870 High Sep 17
*RES 3: 0.6831 High Sep 19
*RES 2: 0.6806/09 High Sep 24 / High Sep 20
*RES 1: 0.6781 Sep 26 high
*PRICE: 0.6700 @ 09:41 GMT Oct 1
*SUP 1: 0.6690 Low Aug 26
*SUP 2: 0.6688 Low Sep 3
*SUP 3: 0.6677 Low August 7 / cycle lows
*SUP 4: 0.6645 0.618 projection of Jul 19 - Aug 7 decline from Sep 12 high
AUDUSD continues to push lower with selling pressure intensifying as the pair
extends the decline that started off the Sep 12 high. The break below former
support at 0.6739, Sep 25 low confirms a resumption of weakness and attention
turns to the late August lows and the YTD low of 0.6677. Interim support and
hurdles for bears lie at 0.6690/88, Aug 26 and Sep 3 lows respectively. Bearish
pressure looks set to persist, resistance is at 0.6806, Sep 24 high.

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.