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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday
MNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
Oversold But Condition Remains Bearish
- RES 4: 0.6702 High Jul 22
- RES 3: 0.6649 50-day EMA
- RES 2: 0.6620 Low Jun 28
- RES 1: 0.6583 High Jul 25
- PRICE: 0.6556 @ 07:31 BST Jul 30
- SUP 1: 0.6515 Low Jul 25
- SUP 2: 0.6466 76.4% retracement of the Apr 19 - Jul 11 bull phase
- SUP 3: 0.6441 Low Apr 23
- SUP 4: 0.6407 Low Apr 22
A sharp sell-off in AUDUSD last week reinforces a bearish theme and signals scope for a continuation. The move down has resulted in a break of support at 0.6576, the Jun 10 low. This paves the way for a move towards 0.6466, a Fibonacci retracement point. From a near-term perspective, the short-term trend is oversold. A recovery would allow this condition to unwind. Key short-term resistance is seen at 0.6649, the 50-day EMA.
To read the full story
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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.