Trial now
USDCAD TECHS

Outlook Remains Bullish

AUDUSD TECHS

Corrective Cycle

Directional Triggers Defined

AUDUSD TECHS
  • 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: 0.7743 @ 17:19 GMT Jan 21
  • SUP 1: 0.7659 Low Jan 18
  • SUP 2: 0.7643 Jan 4 low
  • SUP 3: 0.7603 Low Dec 30
  • SUP 4: 0.7557 50-day EMA

AUDUSD is firmer but continues to trade below the recent high of 0.7820 from Jan 6. Recent price action has defined key directional parameters at 0.7820, the Jan 6 high and 0.7659, the Jan 18 low. The uptrend remains intact. A break higher would confirm a resumption of the underlying uptrend and pave the way for strength towards 0.7885. On the downside, clearance of 0.7659 would instead signal the start of a possible corrective pullback.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com