Free Trial
US TSYS

Asia Set To Assess Bull Steepening

AUSSIE 10-YEAR TECHS

(U2) Weaker into Weekly Close

AUSSIE 3-YEAR TECHS

(U2) Edging Closer to Key Support

RATINGS

A Few Tweaks On Friday

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Clears Key Support

AUDUSD TECHS
  • RES 4: 0.7202 High Jun 9
  • RES 3: 0.7138 High Jun 10
  • RES 2: 0.7069 High Jun 16 and a key short-term resistance
  • RES 1: 0.6979 20-day EMA
  • PRICE: 0.6794 @ 16:56 BST Jul 1
  • SUP 1: 0.6764 Low Jul 1
  • SUP 2: 0.6759, 50.0% retracement of the Mar ‘20 - Feb ‘ 21 bull cycle
  • SUP 3: 0.6685 High Mar 9 2020
  • SUP 4: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD is softer and the pair has traded below its key short-term support at 0.6829, the May 12 low. The break of this support confirms a resumption of the downtrend that started in February 2021 and maintains a broader bearish price sequence of lower lows and lower highs. The move lower signals scope for weakness towards 0.6759, the 50.0% retracement of the Mar ‘20 - Feb ‘ 21 bull cycle.

147 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 0.7202 High Jun 9
  • RES 3: 0.7138 High Jun 10
  • RES 2: 0.7069 High Jun 16 and a key short-term resistance
  • RES 1: 0.6979 20-day EMA
  • PRICE: 0.6794 @ 16:56 BST Jul 1
  • SUP 1: 0.6764 Low Jul 1
  • SUP 2: 0.6759, 50.0% retracement of the Mar ‘20 - Feb ‘ 21 bull cycle
  • SUP 3: 0.6685 High Mar 9 2020
  • SUP 4: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD is softer and the pair has traded below its key short-term support at 0.6829, the May 12 low. The break of this support confirms a resumption of the downtrend that started in February 2021 and maintains a broader bearish price sequence of lower lows and lower highs. The move lower signals scope for weakness towards 0.6759, the 50.0% retracement of the Mar ‘20 - Feb ‘ 21 bull cycle.