The overarching outlook for AUDUSD remains soft following recent weakness and the extension of the reversal that started Jun 16. The pair has traded below the 20- and 50-day EMAs, suggesting scope for a deeper retracement. A continuation lower would open 0.6562, 76.4% of the May 31 - Jun 16 rally, Key resistance is 0.6900, the Jun 16 high. Initial firm resistance is at 0.6721, the Jun 27 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

Edward Hardy

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

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