Free Trial

Bullish Price Sequence Extends

AUSSIE TECHS
  • RES 4: 0.7394 High Dec 4, 2018
  • RES 3: 0.7356 High Dec 5, 2018
  • RES 2: 0.7295 High Jan 2019
  • RES 1: 0.7284 High Feb 2019
  • PRICE: 0.7225 @ 17:20 BST Aug 19
  • SUP 1: 0.7209 Low Aug 18
  • SUP 2: 0.7109 Low Aug 12 and key support
  • SUP 3: 0.7076 Low Aug 3
  • SUP 4: 0.7064/25 Low Jul 24 / 50-dma

AUDUSD went from firm to firmer Tuesday, topping key resistance on the way to a new cycle high at 0.7265. The move above former resistance at 0.7243, Aug 7 high confirms a resumption of the current uptrend and paves the way for a climb towards 0.7295, the Jan 2019 high. Key trend support has been defined at 0.7109, Aug 12 low where a break is required to signal the onset of a correction.

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.