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Free AccessCorrective Phase
- RES 4: 0.7935 High Feb 19, 2018
- RES 3: 0.7917 High Mar 14, 2018 and a key resistance
- RES 2: 0.7885 High Mar 15. 2018
- RES 1: 0.7820 High Jan 6 and the bull trigger
- PRICE: 0.7739 @ 16:51 GMT Jan 13
- SUP 1: 0.7666 Low Jan 11
- SUP 2: 0.7659/43 20-day EMA and Jan 4 low
- SUP 3: 0.7603 Low Dec 30
- SUP 4: 0.7557 Low Dec 28
AUDUSD traded to a fresh high last week of 0.7820 but has since retraced and is still likely in a corrective phase, despite trading higher yesterday. The near-term outlook is bearish. Support levels to watch are located at 0.7659/43, the 20-day EMA and Jan 4 low. A break of this support zone would signal scope for a deeper retracement, initially towards 0.7603, Dec 30 low. On the upside, a breach of 0.7820 would resume the trend.
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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.