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Shows Below Key Support

AUDUSD TECHS
  • RES 4: 0.8007 High Feb 25 and the bull trigger
  • RES 3: 0.7895 76.4% retracement of the Feb 25 - Apr 1 sell-off
  • RES 2: 0.7849 High Mar 18 and a reversal trigger
  • RES 1: 0.7816/18 High Apr 20 / 29
  • PRICE: 0.7686 @ 16:58 BST May 4
  • SUP 1: 0.7675 Low May 4
  • SUP 2: 0.7635 Low Apr 14
  • SUP 3: 0.7586 Low Apr 13
  • SUP 4: 0.7532/17 Low Apr 1 and the bear trigger / Low Dec 22

AUDUSD showed below first support at 0.7691, the Apr 22 low, ahead of the London close. This negates the bullish price structure that had dominated after the recent break of a trendline resistance drawn off the Feb 25 high. THis opens losses toward 0.7635 and 0.7586 key support. Resistance is unchanged at 0.7816/18 the 18 Apr 29 highs. A clear break would open 0.7849, the Mar 18 high.

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

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