Free Trial

Needle Points North

AUDUSD TECHS
  • RES 4: 0.7414 High Sep 1
  • RES 3: 0.7343 3.0% 10-dma envelope
  • RES 2: 0.7314 76.4% retracement of the Sep 1 - Nov 2 downleg
  • RES 1: 0.7300 Intraday high
  • PRICE: 0.7292 @ 06:27 GMT Nov 9
  • SUP 1: 0.7239 Low Nov 6
  • SUP 2: 0.7145 Low Nov 5
  • SUP 3: 0.7144/43 20- day and 50-day EMA support zone
  • SUP 4: 0.7049 Low Nov 4

AUDUSD is bullish. The pair rallied sharply higher last week reinforcing the significance of the recent trendline break drawn off the Sep 1 high. Gains on Nov 5 also resulted in a break of former resistance at 0.7243, Oct 9 high. With bullish conditions strengthened, scope is seen for a climb towards 0.7314 next, a Fibonacci retracement and 0.7345, Sep 16 high. Initial firm support is seen at 0.7145.

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.