Free Trial

Vulnerable *RES 4: 0.6930 200-DMA......>

AUSSIE TECHS
AUSSIE TECHS: Vulnerable
*RES 4: 0.6930 200-DMA
*RES 3: 0.6930 High Oct 31 and bull trigger
*RES 2: 0.6906 High Nov 8
*RES 1: 0.6835 High Nov 19 and key near-term resistance
*PRICE: 0.6783 @ 06:04 GMT Nov 26
*SUP 1: 0.6768 Low Nov 25
*SUP 1: 0.6752 Low Oct 17
*SUP 3: 0.6732 76.4% retracement of Oct 2 - Oct 31 rally
*SUP 4: 0.6724 Low Oct 16
A near-term downside risk in AUDUSD remains in place following the recent break
of trendline support, drawn off the Oct 2 low. The breach represents a S/T
bearish development with momentum studies pointing south. Yesterday's move lower
reinforces the bearish theme and did result in a probe of support at 0.6770, Nov
14 low. The focus is on 0.6732, 76.4% retracement of the Oct 2 - Oct 31 rally.
Resistance at 0.6835 needs to be cleared to offset the bearish threat.

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.