Free Trial

Bullish Price Structure

AUDUSD TECHS
  • RES 4: 0.7917 High Mar 14, 2018 and a key resistance
  • RES 3: 0.7885 High Mar 15. 2018
  • RES 2: 0.7813 High Apr 19, 2018
  • RES 1: 0.7742 High Dec 31
  • PRICE: 0.7697 @ 18:33 GMT Dec 31
  • SUP 1: 0.7603 Low Dec 30
  • SUP 2: 0.7557 Low Dec 28 and the 20-day EMA
  • SUP 3: 0.7517 Low Dec 22
  • SUP 4: 0.7462 Low Dec 21 and a bear trigger

AUDUSD ended the year on a firm note. The pair last week breached recent resistance at 0.7640, Dec 17 high and a bull trigger. This confirms a resumption of the uptrend and opens 0.7732 next, Apr 20, 2018 high. The break higher also reinforces underlying bullish conditions by maintaining the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode too. Firm support is at 0.7557, Dec 28 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.