Free Trial

Resistance Remains Exposed

AUDUSD TECHS
  • RES 4: 0.6682 Low Jul 14 and a recent breakout level
  • RES 3: 0.6656 High Sep 23
  • RES 2: 0.6600 Round number resistance
  • RES 1: 0.6545/47 50-day EMA / High Oct 4 and key resistance
  • PRICE: 0.6396 @ 16:15 BST Oct 31
  • SUP 1: 0.6368/6303 Oct 31 low / Low Oct 25
  • SUP 2: 0.6210/6170 Low Oct 21 / 13 and the bear trigger
  • SUP 3: 0.6133 1.382 proj of the Apr 5 - May 12 - Jun 3 price swing
  • SUP 4: 0.6099 76.4% retracement of the 2020 - 2021 bull cycle

AUDUSD remains bullish following the recent reversal from 0.6170, the Oct 13 low. Attention is on 0.6547, the Oct 4 high and the 50-day EMA, a key short-term hurdle that intersects at 0.6545. A break of these two chart points would strengthen current bullish conditions. Note that gains are still considered corrective and the broader trend direction is down. Initial support to watch lies at 0.6303, the Oct 25 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

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.