Free Trial

Clears Key Short-Term Support

AUDUSD TECHS
  • RES 4: 0.7807 Trendline resistance drawn off the Feb 25 high
  • RES 3: 0.7757 High Mar 22
  • RES 2: 0.7699 Low Mar 17
  • RES 1: 0.7636 High Mar 24
  • PRICE: 0.7610 @ 17:17 GMT Mar 24
  • SUP 1: 0.7564 Low Feb 2 and a key support
  • SUP 2: 0.7517 Low Dec 22
  • SUP 3: 0.7462 Low Dec 21
  • SUP 4: 0.7418 23.6% retracement of the Mar 2020 - Feb rally

AUDUSD traded lower Tuesday and Wednesday to maintain a softer tone. The pair has this week breached support at 0.7621, Mar 9 low and a bear trigger. The break lower confirms a resumption of the bearish cycle that started at 0.8007, Feb 25 high and the move lower paves the way for weakness towards 0.7564 next, the Feb 2 low and below. On the upside, key resistance has been established at 0.7849, Mar 18 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.