Free Trial

Sold on Rallies

AUDUSD TECHS
  • RES 4: 0.7029 High Feb 14
  • RES 3: 0.6993 76.4% retracement of the Feb 2 - May 31 bear leg
  • RES 2: 0.6936 High Feb 16
  • RES 1: 0.6900 High Jun 16 and key resistance
  • PRICE: 0.6785 @ 16:24 BST Jul 20
  • SUP 1: 0.6754 Low Jul 19
  • SUP 2: 0.6746 20-day EMA
  • SUP 3: 0.6651 Low Jul 11
  • SUP 4: 0.6596 Low Jun 29 and key support

AUDUSD initially traded favourably through the European open on a solid local jobs report. This impact soon faded, however, keeping prices from any major test on the first upside resistance level at 0.6900, the Jun 16 high. A break of this level would open 0.6936, the Feb 16 high. Initial support lies at 0.6746, the 20-day EMA. Weakness through here would open potential for losses toward the 0.6712 200-dma.

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.