BRIEF: EC Approves Italy's 5th NGEU Payment Request For EUR11 billion

MNI BRIEF: ECB's Eye On French Markets, Price Stability Key

MNI BRIEF: Lower Inflation Path Remains Bumpy - Lagarde

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI China Daily Summary: Tuesday, July 2

MNI BRIEF: China Aims For AI Standards By 2026

EZ/UK T-Bill Calendar: Greece, EU Auction on Wednesday

EZ/UK Bond Supply Calendar: 2.60% Aug-34 Bund Due Wednesday

Ita-coin Nowcast Negative For Second Month

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

AUDUSD TECHS: Trading In A Range

AUDUSD TECHS
USForeign Exchange Technical AnalysisAPACAustraliaBulletGlobalForeign Exchange BulletsRegionNorth America
  • RES 4: 0.6771 High Jan 3                  
  • RES 3: 0.6751 76.4% retracement of the Dec 28 - Apr 19 bear leg   
  • RES 2: 0.6729 High Jan 12  
  • RES 1: 0.6714 High Jun 16 and the bull trigger 
  • PRICE: 0.6658 @ 16:23 BST Jul 02
  • SUP 1: 0.6576 Low Jun 10 and a key support 
  • SUP 2: 0.6558 Low May 8
  • SUP 3: 0.6539 50.0% retracement of the Apr 19 - May 16 bull leg 
  • SUP 4: 0.6497 61.8% retracement of the Apr 19 - May 16 bull leg 

AUDUSD remains in consolidation mode and continues to trade inside a range. Resistance is at 0.6714, the May 16 high, and support lies at 0.6576, the Jun 10 low. Both levels represent important  short-term directional triggers. A break of 0.6714, would open 0.6751, a Fibonacci retracement. Clearance of 0.6576 would expose 0.6558 initially, the May 8 low. Looking at MA studies, they are in a bull-mode set-up and highlight an uptrend.   

156 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: 0.6771 High Jan 3                  
  • RES 3: 0.6751 76.4% retracement of the Dec 28 - Apr 19 bear leg   
  • RES 2: 0.6729 High Jan 12  
  • RES 1: 0.6714 High Jun 16 and the bull trigger 
  • PRICE: 0.6658 @ 16:23 BST Jul 02
  • SUP 1: 0.6576 Low Jun 10 and a key support 
  • SUP 2: 0.6558 Low May 8
  • SUP 3: 0.6539 50.0% retracement of the Apr 19 - May 16 bull leg 
  • SUP 4: 0.6497 61.8% retracement of the Apr 19 - May 16 bull leg 

AUDUSD remains in consolidation mode and continues to trade inside a range. Resistance is at 0.6714, the May 16 high, and support lies at 0.6576, the Jun 10 low. Both levels represent important  short-term directional triggers. A break of 0.6714, would open 0.6751, a Fibonacci retracement. Clearance of 0.6576 would expose 0.6558 initially, the May 8 low. Looking at MA studies, they are in a bull-mode set-up and highlight an uptrend.