Free Trial

Key Resistance At 0.7441 Remains Exposes

AUDUSD TECHS
  • RES 4: 0.7556 High Oct 28 and a key resistance
  • RES 3: 0.7532 High Nov 2, 2021
  • RES 2: 0.7444 2.0% 10-dma envelope
  • RES 1: 0.7441 High Mar 7 and the bull trigger
  • PRICE: 0.7385 @ 06:54 GMT Mar 22
  • SUP 1: 0.7290/43 20-day EMA / 50-day EMA
  • SUP 2: 0.7165 Low Mar 15 and a key support
  • SUP 3: 0.7095 Low Feb 24
  • SUP 4: 0.7080 76.4% retracement of the Jan 28 - Mar 7 upleg

AUDUSD is trading near its recent highs and maintains a bullish tone. The pair defined a key short-term support last week at 0.7165, the Mar 15 low. The strong reversal from this low signalled a potential resumption of the uptrend that started Jan 28 with moving averages also in a bull mode, highlighting an uptrend. Attention is on 0.7441, the Mar 7 high and a bull trigger. Weakness below 0.7165 is needed to reinstate a bearish theme.

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.