Free Trial

(Z17) Pullback Finds Support....>

AUSSIE 3-YEAR TECHS
AUSSIE 3-YEAR TECHS: (Z17) Pullback Finds Support From 97.970
*RES 4:  98.195 June 15 high
*RES 3:  98.140 Repeated daily highs June
*RES 2:  98.120 76.4% Fibo of 98.240-97.720
*RES 1:  98.080 Nov 5, Nov 6 highs
*PRICE:  98.060 @ 2230GMT
*SUP 1:  97.970 Nov 14 low
*SUP 2:  97.940 Oct 27 high, 38.2% of 97.720-98.080
*SUP 3:  97.900 Oct 27, 30 lows, 50% of 97.720-98.080
*SUP 4:  97.850 Congestion area mid Oct, 61.8% 97.720-98.080
*COMMENTARY* Unable to sustain a break above the previous 98.030 resistance last
week. A high of 98.080 before succumbing to some near term overbought
conditions, which has resulted in a fall to 98.980-97.970 this week.  This area
now the protection against a greater correction of gains seen since the Sep 21
low at 97.720. Meanwhile, the move back above 98.050-98.060 offers some
encouragement, 98.120 the next target should 98.080 be exceeded.

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.