Free Trial

Needle Points South

AUDUSD TECHS
  • RES 4: 0.7499/7503 50.0% of the May - Aug sell-off / High Jul 13
  • RES 3: 0.7478 High Sep 3 and the bull trigger
  • RES 2: 0.7410 High Sep 10
  • RES 1: 0.7316 20-day EMA
  • PRICE: 0.7236 @ 20:01 BST Sep 22
  • SUP 1: 0.7220 Low Sep 20
  • SUP 2: 0.7194 76.4% retracement of the Aug 20 - Sep 3 rally
  • SUP 3: 0.7106 Low Aug 20 and the bear trigger
  • SUP 4: 0.7053 38.2% retracement of the Mar '20 - Feb uptrend

AUDUSD remains bearish following recent weakness. The 20-day EMA and a number of retracement levels have recently been cleared as the pair extends the pullback from 0.7478, Sep 3 high . The focus is on 0.7194, 76.4% of the Aug 20 - Sep 3 rally. A break of this level would expose the key support at 0.7106. On the upside, initial resistance is seen at 0.7316, the 20-day EMA ahead of 0.7410, the Sep 10 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.