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Broader base selling going through

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MNI POLITICAL RISK - US Daily Brief

USD

Extending lower

COPPER TECHS

(Z2) Clears Key Resistance

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Fresh Trend Low

AUDUSD TECHS
  • RES 4: 0.6747 High Sep 20
  • RES 3: 0.6689 20-day EMA
  • RES 2: 0.6656 High Sep 23
  • RES 1: 0.6550 High Sep 26
  • PRICE: 0.6391 @ 07:19 BST Sep 28
  • SUP 1: 0.6377 Intraday low
  • SUP 2: 0.6337 Low Apr 24 2020
  • SUP 3: 0.6283 Low Apr 23 2020
  • SUP 4: 0.6255 1.236 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD remains in a downtrend and the pair is trading lower today. The outlook remains bearish. Last week’s move lower resulted in a break of support at 0.6682, the Jul 14 low and bear trigger. This strengthens bearish conditions and maintains the broader bearish price sequence of lower lows and lower highs. The focus is on 0.6373 next, the May 4 2020 low. Initial firm resistance has been defined at 0.6689, the 20-day EMA.

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  • RES 4: 0.6747 High Sep 20
  • RES 3: 0.6689 20-day EMA
  • RES 2: 0.6656 High Sep 23
  • RES 1: 0.6550 High Sep 26
  • PRICE: 0.6391 @ 07:19 BST Sep 28
  • SUP 1: 0.6377 Intraday low
  • SUP 2: 0.6337 Low Apr 24 2020
  • SUP 3: 0.6283 Low Apr 23 2020
  • SUP 4: 0.6255 1.236 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD remains in a downtrend and the pair is trading lower today. The outlook remains bearish. Last week’s move lower resulted in a break of support at 0.6682, the Jul 14 low and bear trigger. This strengthens bearish conditions and maintains the broader bearish price sequence of lower lows and lower highs. The focus is on 0.6373 next, the May 4 2020 low. Initial firm resistance has been defined at 0.6689, the 20-day EMA.