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Late Equity Roundup: Mildly Lower on Week


Remains Above The 50-Day EMA

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Remains Above The May Low

  • RES 4: 0.8007 High Feb 25 and the bull trigger
  • RES 3: 0.7905 2.0% 10-dma envelope
  • RES 2: 0.7891/95 High May 10 / 76.4% of the Feb 25 - Apr 1 sell-off
  • RES 1: 0.7813/46 High May 18 / High May 12
  • PRICE: 0.7739 @ 14:36 BST May 31
  • SUP 1: 0.7677 Low May 28
  • 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 remains above this month's low of 0.7675 from May 4. A bearish theme dominates and attention is on the 0.7675 level, seen as a firm short-term support. A break would strengthen a bearish case and signal scope for a deeper pullback towards 0.7586, the Apr 13 low. For bulls, clearance of 0.7813, May 18 high would be a bullish development and open 0.7891 unstead, high May 10.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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