Free Trial
US TSYS

Belly Leads The Weakness On Wednesday

AUSSIE 10-YEAR TECHS

Shallow Bounce

AUSSIE 3-YEAR TECHS

(U2) Fades Early Weekly Strength

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Pullback Considered Corrective

AUDUSD TECHS
  • RES 4: 0.7141 76.4% retracement of the Jun 3 - Jul 14 downleg
  • RES 3: 0.7069 High Jun 16
  • RES 2: 0.7047/53 High Aug 1 / 61.8% of the Jun 3 - Jul 14 downleg
  • RES 1: 0.6960 50-day EMA
  • PRICE: 0.6937 @ 08:15 BST Aug 3
  • SUP 1: 0.6886 Intraday low
  • SUP 2: 0.6859 Low Jul 21
  • SUP 3: 0.6786/6682 Low Jul 18 / 14 and the bear trigger
  • SUP 4: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD traded higher Monday, but has since faced resistance and traded sharply lower Tuesday. The short-term outlook is bullish and for now, the pullback is considered corrective. A resumption of strength, and a break of resistance at 0.7047, Monday’s high, would open the Jun 16 high at 0.7069. Further out there is scope for a climb towards 0.7141, a Fibonacci retracement. The next support to watch is 0.6859, the Jul 21 low.

154 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 0.7141 76.4% retracement of the Jun 3 - Jul 14 downleg
  • RES 3: 0.7069 High Jun 16
  • RES 2: 0.7047/53 High Aug 1 / 61.8% of the Jun 3 - Jul 14 downleg
  • RES 1: 0.6960 50-day EMA
  • PRICE: 0.6937 @ 08:15 BST Aug 3
  • SUP 1: 0.6886 Intraday low
  • SUP 2: 0.6859 Low Jul 21
  • SUP 3: 0.6786/6682 Low Jul 18 / 14 and the bear trigger
  • SUP 4: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD traded higher Monday, but has since faced resistance and traded sharply lower Tuesday. The short-term outlook is bullish and for now, the pullback is considered corrective. A resumption of strength, and a break of resistance at 0.7047, Monday’s high, would open the Jun 16 high at 0.7069. Further out there is scope for a climb towards 0.7141, a Fibonacci retracement. The next support to watch is 0.6859, the Jul 21 low.