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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
AUDUSD: Watching The Key Support Handle
- RES 4: 0.7314 76.4% retracement of the Sep 1 - Nov 2 downleg
- RES 3: 0.7252 61.8% retracement of the Sep 1 - Nov 2 downleg
- RES 2: 0.7243 High Oct 10 and a key resistance
- RES 1: 0.7222 Intraday high
- PRICE: 0.7116 @ 10:48 GMT Nov 4
- SUP 1: 0.7049 Intraday low
- SUP 2: 0.6991 Low Nov 2
- SUP 3: 0.6965 23.6% retracement of the Mar - Sep rally
- SUP 4: 0.6931 0.764 proj of Sep 1 - 25 sell-off from Oct 9 high
AUDUSD traded firmer Tuesday but is trading in a volatile manner today. Yesterday the pair cleared its key short-term trendline resistance drawn off the Sep 1 high. This signals a potential reversal, exposing resistance at 0.7243, Oct 9 high. Clearance of this hurdle would strengthen bullish conditions. On the downside, key support lies at 0.6991, Nov 2 low. This is also the bear trigger, a break would resume recent bearish pressure.
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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.