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Policy
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Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
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G10 Markets
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Real-time insight on key fixed income and fx markets.
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Free AccessFocus Is On The Bearish Engulfing Line
- RES 4: 0.7324 High Sep 21
- RES 3: 0.7238 Trendline resistance drawn off the Sep 1 high
- RES 2: 0.7235 High Sep 22
- RES 1: 0.7209 High Oct 1 / 6
- PRICE: 0.7188 @ 10:53 BST Oct 9
- SUP 1: 0.7096 Low Oct 7 and the intraday bear trigger
- SUP 2: 0.7070 Low Sep 29
- SUP 3: 0.7006 Low Sep 25 and the bear trigger
- SUP 4: 0.6965 38.2% retracement of the Mar - Sep rally
AUDUSD is firmer off recent lower lows. The focus though is on the Oct 6 bearish reversal pattern, an engulfing candle line that signals the end of the correction since Sep 25. If correct, the pattern highlights risk for a move lower that would expose 0.7006, Sep 25 low. Clearance of this support would confirm a resumption of the September downleg. Initial resistance is at 0.7209, Oct 1 and 6 high. Key trendline resistance is at 0.7238.
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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.