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Free AccessFade Off Highs, But Bull Rally Still Holds
- RES 4: 0.7029 High Feb 14
- RES 3: 0.6993 76.4% retracement of the Feb 2 - May 31 bear leg
- RES 2: 0.6936 High Feb 16
- RES 1: 0.6900 High Jun 16 and key resistance
- PRICE: 0.6829 @ 15:52 BST Jul 18
- SUP 1: 0.6784 Low Jul 13
- SUP 2: 0.6713 20-day EMA
- SUP 3: 0.6651 Low Jul 11
- SUP 4: 0.6596 Low Jun 29 and key support
A strong impulsive rally in AUDUSD last week resulted in the break of a number of key short-term resistance points. The move highlights a stronger short-term bullish theme and price remains within range of resistance at 0.6900, the Jun 16 high. A break of this level would open 0.6936, the Feb 16 high. Initial support lies at Thursday’s intraday low of 0.6784. A firmer level lies at 0.6713, the 20-day EMA.
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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.