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Free AccessBear Trend Exposes Key Support
- RES 4: 0.7040 High Aug 16
- RES 3: 0.7009 High Aug 26 and a key short-term resistance
- RES 2: 0.6940 50-day EMA
- RES 1: 0.6855/6904 High Sep 2 / 20-day EMA
- PRICE: 0.6784 @ 06:59 BST Sep 5
- SUP 1: 0.6771 Low Sep 1
- SUP 2: 0.6719 Low Jul 15
- SUP 3: 0.6682 Low Jul 14 and the bear trigger
- SUP 4: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing
A bearish theme in AUDUSD remains intact and the pair is trading at its recent lows. The extension lower last week strengthens bearish conditions and confirms a resumption of the bear leg that started Aug 11. Price has breached 0.6789, 76.4% of the Jul 14 - Aug 11 upleg. This opens 0.6682, the Jul 14 low and a key support. On the upside, key short-term resistance is unchanged at 0.7009, Aug 26 high.
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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.