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Bearish Focus

AUDUSD TECHS
  • RES 4: 0.7661 High Apr 5 and key resistance
  • RES 3: 0.7593 Hgh Apr 6
  • RES 2: 0.7519 High Apr 7
  • RES 1: 0.7432/93 20-day EMA / Apr 12 high
  • PRICE: 0.7370 @ 15:41 BST Apr 19
  • SUP 1: 0.7343/40 Low Apr 18 / 50-DMA
  • SUP 2: 0.7282 76.4% retracement of the Mar 15 - Apr 5 climb
  • SUP 3: 0.7283 Low Mar 17
  • SUP 4: 0.7181 Low Mar 16

AUDUSD remains vulnerable near-term following the recent pullback from 0.7661, Apr 5 high. Yesterday’s move lower confirmed a bearish start to this week’s trading session. The pair has traded through both the 20- and 50-day EMAs, reinforcing current bearish conditions and signalling scope for an extension lower. The focus is on 0.7282, a Fibonacci retracement. On the upside, resistance is at 0.7493, Apr 12 high.

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

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