Free Trial

Bearish Focus

AUDUSD TECHS
  • RES 4: 0.7523 50-day EMA
  • RES 3: 0.7503 High Jul 13
  • RES 2: 0.7487 High Jul 15
  • RES 1: 0.7429 High Jul 19
  • PRICE: 0.7408 @ 17:14 BST Aug 05
  • SUP 2: 0.7290 Low Jul 21 and the bear trigger
  • SUP 3: 0.7284 Low Nov 24, 2020
  • SUP 3: 0.7235 1.382 proj of Feb 25 - Apr 1 - May 10 price swing
  • SUP 4: 0.7222 Low Nov 13, 2020

AUDUSD remains in a range. The trend outlook is unchanged and bearish. This follows the recent breach of a channel base drawn from the Feb 25 high. Despite the fact that price has moved back inside the channel area, the move lower marks an important technical break, signalling potential for 0.7235 next, a 1.236 projection of the Feb 25 - Apr 1 - May 10 price swing. On the upside, initial resistance is at 0.7429, Jul 19 high.

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.