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Fails To Hold On To Thursday Gains

AUDUSD TECHS
  • RES 4: 0.6921 High Feb 20
  • RES 3: 0.6861 50.0% retracement of the Feb 2 - Mar 10 bear leg
  • RES 2: 0.6824 High Feb 24
  • RES 1: 0.6772/0.6806 High Apr 20 / Apr 14
  • PRICE: 0.6691 @ 16:40 BST Apr 21
  • SUP 1: 0.6678/6620 Low Apr 21 / 10
  • SUP 2: 0.6590 Low Mar 15
  • SUP 3: 0.6565/47 Low Mar 10 / 61.8% of the Oct - Feb bull cycle
  • SUP 4: 0.6500 Round number support

AUDUSD failed to hold on to Thursday’s gains and traded lower again Friday. A key short-term resistance has been defined at 0.6806, the Apr 14 high. Clearance of this level would reinstate a bullish theme and open 0.6861, a Fibonacci retracement. On the downside, support to watch is unchanged at 0.6620, the Apr 10 low. A break of this level would represent a bearish development and leave the bear trigger at 0.6565 exposed, Mar 10 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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