Free Trial

Hits Bull Trigger

AUDUSD TECHS
  • RES 4: 0.7988 High Mar 14, 2018 and a key resistance
  • RES 3: 0.7960 3.0% Upper Bollinger Band
  • RES 2: 0.7955 2.0% 10-dma envelope
  • RES 1: 0.7935 High Feb 23
  • PRICE: 0.7910 @ 17:32 GMT Feb 23
  • SUP 1: 0.7718 20-day EMA
  • SUP 2: 0.7651 Low Feb 8
  • SUP 3: 0.7583/64 Low Feb 5 / Low Feb 2 and the bear trigger
  • SUP 4: 0.7557 Low Dec 28

AUDUSD maintains a bullish posture and once again traded higher still early Tuesday. Price action on Feb 5 highlighted a reversal signal following the inability to clear the 50-day EMA. The pair has breached resistance at 0.7820, Jan 6 high as well as 0.7915, hitting the bull trigger in the process. This opens vol band resistance at 0.7955. On the downside, a break of 0.7564, Feb 2 low is required to highlight a broader reversal. Initial support lies at 0.7718, the 20-day EMA.

To read the full story

Close

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.