Technical Analysis

National Australia Bank technical analysis on AUD/yen ()note the time scale of the chart – this is a longer-term picture: NAB note the break of the downtrend line but the upside is not yet secured.  The September month-end close is now crucial. Above 77.40/60, MT uptrend confirmation remains in play. Below 75.43 the risk of
Not a pretty day Yesterday we filled Tuesday’s gap lower. Today we filled Wednesday’s gap higher. The S&P 500 is down 65 points to 3334, or 1.9%. It’s nearly 100 points from the highs of the day. Looking at the euro, the climb on Lagarde’s comments was the ‘right’ trade, even if it didn’t change