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New Weekly Lows

AUDUSD TECHS
  • RES 4: 0.8044 High Feb 2, 2018
  • RES 3: 0.8007 High Feb 25 and the bull trigger
  • RES 2: 0.7934 2.0% 10-dma envelope
  • RES 1: 0.7895 76.4% retracement of the Feb 25 - Apr 1 sell-off
  • PRICE: 0.7738 @ 16:41 BST May 12
  • SUP 1: 0.7734 Low May 12
  • SUP 2: 0.7675 Low May 4 and key support
  • SUP 3: 0.7635 Low Apr 14
  • SUP 4: 0.7586 Low Apr 13

AUDUSD traded higher Monday but stalled at the session high and has since pulled back. The pair hit new weekly lows post-US CPI. A bullish outlook remains intact though. The pair has recently cleared the April highs and this opens the 76.4% retracement of the February - April downtick at 0.7895. A break here would strengthen bullish conditions and point the needle toward the year's best levels printed in late February at 0.8007.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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