Free Trial

Approaching Resistance

AUDUSD TECHS
  • RES 4: 0.7371 High Nov 15, 2021
  • RES 3: 0.7345 2.0% 10-dma envelope
  • RES 2: 0.7314 High Jan 13 and a key resistance
  • RES 1: 0.7290/91 High Mar 1 / 2
  • PRICE: 0.7279 @ 17:52 GMT Mar 2
  • SUP 1: 0.7187 50-day EMA
  • SUP 2: 0.7095 Low Feb 24 and a key short-term support
  • SUP 3: 0.7086/7052 Low Feb 14 / Low Feb 4
  • SUP 4: 0.6968/6963 Low Jan 28 / Low Jul 16, 2020

AUDUSD traded higher Tuesday and Wednesday to print 0.7290, topping first resistance at 0.7284 in the process. A key resistance intersects just above at 0.7314, Jan 13 high. Clearance would strengthen the case for bulls and open 0.7371, Nov 15 high. A key short-term support has been defined at 0.7095, the Feb 24 low where a break would instead highlight a bearish threat and expose 0.6968, the Feb 14 low and a key support.

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

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.