Free Trial

50-Day EMA Still Provides Support

AUDUSD TECHS
  • RES 4: 0.8164 High May 15, 2015
  • RES 3: 0.8136 High Jan 2018 and Major Resistance
  • RES 2: 0.8007 High Feb 25 and the bull trigger
  • RES 1: 0.7883 High Feb 26
  • PRICE: 0.7765 @ 06:32 GMT Mar 2
  • SUP 1: 0.7696/93 50-day EMA / Low Feb 26
  • SUP 2: 0.7651 Low Feb 8
  • SUP 3: 0.7583/64 Low Feb 5 / Low Feb 2 and the bear trigger
  • SUP 4: 0.7557 Low Dec 28

AUDUSD is trading closer to recent lows and remains vulnerable following last week's sharp sell-off from 0.8007, Feb 25 high. Price action has so far managed to find support at the 50-day EMA that intersects at 0.7696 today. A clear break of the average would signal scope for a deeper pullback and open the 0.7600 handle and potentially below. Initial resistance is at 0.7883, Friday's high with the bull trigger for a resumption of gains defined at 0.8007.

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.