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Why MNI
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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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Rally Bucks Broader Downtrend
- 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: 0.6797 High Apr 13
- PRICE: 0.6773 @ 08:01 BST Apr 14
- SUP 1: 0.6685/6620 Low Apr 14 / 10
- SUP 2: 0.6590 Low Mar 15
- SUP 3: 0.6565/47 Low Mar 10 / 61.8% of the Oct - Feb bull cycle
- SUP 4: 0.6500 Round number support
AUDUSD topped the 50-day EMA convincingly on Thursday amid broad USD weakness. This works against the broader downtrend, leaving a break below 0.6565 - the Mar 3 low - a requirement for any resumption and continuation of the bear cycle. A continuation higher would open 0.6824, the Feb 24 high and 0.6861, a Fibonacci retracement. First support to watch is Thursday’s low at 0.6685. A breach would be seen as an early reversal signal.
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Why MNI
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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.