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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.
AUSSIE TECHS
- AUDUSD failed to breach its trendline resistance on Oct 9 and has since pulled back. This failure at the trendline weighs on the pair.
- Today's sell-off exposes key support at 0.7006, Sep 25 low.
- A break of 0.7006 would resume the downtrend from Sep 1 and open:
- 0.6965 23.6% retracement of the Mar - Sep rally and
- 0.6931 0.764 projection of Sep 1 - 25 sell-off from Oct 9 high
- EURUSD is firmer this week and attention turns to EURAUD.
- EURAUD has confirmed a breakout of a broad range it has been trading within since mid-June. Yesterday's clearance of 1.6586 and 1.6593, Jun 12 and Sep 24 highs respectively confirmed the breakout.
- The breach reverses the downtred between March and June.
- Calculating range breakout projections, 1.7000 appears on the radar.
- With EURUSD gains this week reinforcing bullish developments in EURAUD, watch key EURUSD resistance at 1.1831, Oct 9 high.
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.
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