MNI: PBOC Net Drains CNY195.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1868 Weds; -2.18% Y/Y

MNI China Daily Summary: Tuesday, December 24

MNI: JAPAN NOV SERVICES PPI +3.0% Y/Y; OCT UNREV +2.9%

MNI: PBOC Net Drains CNY291.3 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Tues; -2.11% Y/Y

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

MNI: US DEC PHILADELPHIA FED NONMFG INDEX -6

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AUDUSD TECHS: Corrective Bounce

AUDUSD TECHS
USForeign Exchange Technical AnalysisAPACAustraliaBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 0.6762 High Oct 9   
  • RES 3: 0.6733 High Oct 13             
  • RES 2: 0.6604/88 50-day EMA / High Nov 7 and a reversal trigger  
  • RES 1: 0.6534/50 20-day EMA / High Nov 25
  • PRICE: 0.6512 @ 16:03 GMT Nov 29
  • SUP 1: 0.6434 Low Nov 26
  • SUP 3: 0.6400 Round number support 
  • SUP 3: 0.6350 Low Aug 5 and a key support  
  • SUP 4: 0.6339 Low Nov 10 2023

A bearish theme in AUDUSD remains intact. The fresh cycle low on Tuesday marks an extension of the price sequence of lower lows and lower highs. Note that moving average studies are in a bear-mode position, highlighting a dominant downtrend. Scope is seen for a move towards 0.6350, the Aug 5 low and the next key support. The pair has recovered from its recent lows - a correction. Initial firm resistance to watch is 0.6534, the 20-day EMA. 

144 words

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.
  • RES 4: 0.6762 High Oct 9   
  • RES 3: 0.6733 High Oct 13             
  • RES 2: 0.6604/88 50-day EMA / High Nov 7 and a reversal trigger  
  • RES 1: 0.6534/50 20-day EMA / High Nov 25
  • PRICE: 0.6512 @ 16:03 GMT Nov 29
  • SUP 1: 0.6434 Low Nov 26
  • SUP 3: 0.6400 Round number support 
  • SUP 3: 0.6350 Low Aug 5 and a key support  
  • SUP 4: 0.6339 Low Nov 10 2023

A bearish theme in AUDUSD remains intact. The fresh cycle low on Tuesday marks an extension of the price sequence of lower lows and lower highs. Note that moving average studies are in a bear-mode position, highlighting a dominant downtrend. Scope is seen for a move towards 0.6350, the Aug 5 low and the next key support. The pair has recovered from its recent lows - a correction. Initial firm resistance to watch is 0.6534, the 20-day EMA.