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Bearish Activity Dominates

AUDUSD TECHS
  • RES 4: 0.7493 Apr 12 high and key intraday resistance
  • RES 3: 0.7458 High Apr 20/21
  • RES 2: 0.7349 50-day EMA
  • RES 1: 0.7261 High Apr 25
  • PRICE: 0.7135 @ 17:15 BST Apr 27
  • SUP 1: 0.7101 Low Apr 27
  • 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 remains vulnerable and traded lower again Wednesday. The pair recently cleared support at 0.7165, the Mar 15 low and a key short-term bear trigger. The break of this level reinforces current bearish conditions and paves the way for a move towards 0.7095, the Feb 24 low. Initial resistance is seen at Monday’s intraday high of 0.7261. Firmer resistance however is set at 0.7349, the 50-day EMA.

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

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