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US-CHINA

Biden Commits To Taiwan Defence, Beijing Pushes Back

DATA REACT

EURUSD to high of the day but limited FI reaction

DATA REACT

EURUSD to high of the day but limited FI reaction

GERMAN DATA

PMI: "Unprecedented" rise in output prices

FRANCE DATA

PMI data: Inflationary pressures "grew stronger"

Monitoring A Reversal Threat

AUDUSD TECHS
  • RES 4: 0.7917 High Mar 14, 2018 and a key resistance
  • RES 3: 0.7885 High Mar 15. 2018
  • RES 2: 0.7782/7820 High Jan 21 / High Jan 6 and the bull trigger
  • RES 1: 0.7704 High Jan 29
  • PRICE: 0.7675 @ 06:41 GMT Feb 8
  • SUP 1: 0.7564 Low Feb 2 and the short-term bear trigger
  • SUP 2: 0.7557 Low Dec 28
  • SUP 3: 0.7517 Low Dec 22
  • SUP 4: 0.7462 Low Dec 21

AUDUSD recovered Friday and closed at session highs. Friday's price action is being monitored as a possible reversal signal with initial resistance at 0.7704, Jan 29 high. For now, S/T conditions remain bearish though and scope is seen for a pullback as part of a corrective cycle with momentum studies trending down and unwinding a recent overbought reading. A break of 0.7564, Feb 2 low would resume the downtrend open 0.7517, Dec 22 low.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com