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Why MNI
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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.
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Bear Cycle Extension
- RES 4: 0.7556 High Oct 28, 2021 and a key resistance
- RES 3: 0.7532 High Nov 2, 2021
- RES 2: 0.7441 High Mar 7 and the bull trigger
- RES 1: 0.7368 High Mar 10
- PRICE: 0.7243 @ 07:11 GMT Mar 14
- SUP 1: 0.7223 - 50-day EMA
- SUP 2: 0.7141 Low Feb 25
- SUP 3: 0.7095 Low Feb 24 and a key support
- SUP 4: 0.7052 Low Feb 4
AUDUSD is trading lower today as the pair extends the pullback from 0.7441, the Mar 7 high. The continuation lower suggests potential for a deeper correction and this means the price pattern on Mar 7 - a bearish shooting star candle - remains in play. The move lower has exposed the 50-day EMA at 0.7223 - a key support. The primary trend remains up though. A reversal higher would refocus attention on 0.7441, the bull trigger.
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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.