Free Trial

AUDUSD TECHS: Support Remains Intact

AUDUSD TECHS
  • RES 4: 0.6895 High Jul 13 / 14 2023    
  • RES 3: 0.6871 High Dec 28 and a key resistance                
  • RES 2: 0.6839 High Jan 02
  • RES 1: 0.6799 High Jul 11 
  • PRICE: 0.6666 @ 08:03 BST Jul 22
  • SUP 1: 0.6666 50-day EMA
  • SUP 2: 0.6661 Low Jul 22 
  • SUP 3: 0.6576 Low Jun 10 and a key support
  • SUP 4: 0.6558 Low May 8

AUDUSD prices faded into the Friday close and remain heavy early Monday. Initial firm support has broken at 0.6712, the 20-day EMA and the close below here signals scope for a deeper retracement. The bull trigger is at 0.6799, the Jul 11 high. A break would resume the uptrend and pave the way for a climb towards 0.6839 next, the Jan 2 high. Moving average studies are in a bull-mode set-up highlighting a rising trend over the medium-term.

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.