Free Trial

Clears The 20-Day EMA

AUDUSD TECHS
  • RES 4: 0.7141 76.4% retracement of the Jun 3 - Jul 14 downleg
  • RES 3: 0.7069 High Jun 16
  • RES 2: 0.6964 50-day EMA
  • RES 1: 0.6912 38.2% retracement of the Jun 3 - Jul 14 downleg
  • PRICE: 0.6888 @ 16:25 BST Jul 21
  • SUP 1: 0.6786/6682 Low Jul 18 / 14 and the bear trigger
  • SUP 2: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing
  • SUP 3: 0.6588 Low May 28 2020
  • SUP 4: 0.6538 Low May 26 2020

AUDUSD was broadly flat into the Thursday close after extending the bounce from 0.6682, the Jul 14 low. Tuesday’s gains also resulted in a break of the 20-day EMA and this exposes resistance at the 50-day EMA, at 0.6964. Short-term gains are considered corrective and the primary bear trend remains intact. A reversal lower would refocus attention on the 0.6682 bear trigger where a break would confirm a resumption of the downtrend.

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.