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Impulsive Sell-Off Extends

AUDUSD TECHS
  • RES 4: 0.7493 Apr 12 high and key intraday resistance
  • RES 3: 0.7458, High Apr 20/21
  • RES 2: 0.7371 50-day EMA
  • RES 1: 0.7273 Intraday high
  • PRICE: 0.7164 @ 17:25 BST Apr 25
  • SUP 1: 0.7135 Low Apr 25
  • SUP 2: 0.7095 Low Feb 24 and key near-term support
  • SUP 3: 0.7052 Low Feb 4
  • SUP 4: 0.6985 Low Jan 31

AUDUSD traded sharply lower again Monday as the current impulsive sell-off extends. The pair has probed support at 0.7165, the Mar 15 low and a key short-term bear trigger. A clear break of this level would reinforce current bearish conditions and pave the way for a move towards 0.7095, the Feb 24 low. Initial resistance is seen at Monday’s intraday high of 0.7273. Firmer resistance however is at 0.7366, the 50-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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