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Free AccessPierces Key Resistance
- RES 4: 0.6921 High Feb 20
- RES 3: 0.6861 50.0% retracement of the Feb 2 - Mar 10 bear leg
- RES 2: 0.6824 High Feb 24
- RES 1: 0.6818 High May 10
- PRICE: 0.6747 @ 07:57 BST May 11
- SUP 1: 0.6716 50-day EMA
- SUP 2: 0.6640/6565 Low May 4
- SUP 3: 0.6565 Low Mar 10 and the bear trigger
- SUP 4: 0.6547 61.8% of the Oct - Feb bull cycle
AUDUSD maintains a positive short-term tone and yesterday pierced key resistance at 0.6806, Apr 14 high. A resumption of gains and a clear break of this level would strengthen a bullish case and open 0.6861, a Fibonacci retracement. On the downside, key support to watch lies at 0.6565, Mar 10 low. Clearance of this level would be bearish and would instead resume the downtrend that started Feb 2. Initial support is at 0.6716, the 50-day EMA.
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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.