Free Trial

Bull Cycle Extends

AUDUSD TECHS
  • RES 4: 0.6799 High Jul 11 and key resistance
  • RES 3: 0.6764 High Jul 16
  • RES 2: 0.6744 High Jul 18
  • RES 1: 0.6695 Intraday high
  • PRICE: 0.6690 @ 08:55 BST Aug 19
  • SUP 1: 0.6616 50-day EMA
  • SUP 2: 0.6565 Low Aug 12
  • SUP 3: 0.6508/6350 Low Aug 8/ 5 and the bear trigger
  • SUP 4: 0.6339 Low Nov 10’23

AUDUSD hast started the week on a bullish ast the pair extends the reversal that started Aug 5. The extension higher undermines the recent bearish theme. Price has pierced 0.6693, 76.4% of the Jul 11 - Aug 5 bear leg. A clear break of this price point would strengthen a bullish theme and signal scope for a climb towards 0.6799, the Jul 11 high. Initial firm support to watch lies at 0.6565, the Aug 12 low.

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.