Free Trial

Southbound

AUDUSD TECHS
  • RES 4: 0.7202 High Jun 9
  • RES 3: 0.7138 High Jun 10
  • RES 2: 0.0.6987/7069 50-day EMA / High Jun 16 and key resistance
  • RES 1: 0.6869/6964 20-day EMA / High Jun 28
  • PRICE: 0.6747 @ 16:46 BST Jul 14
  • SUP 1: 0.6682 Low Jul 14
  • SUP 2: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing
  • SUP 3: 0.6588 Low May 28 2020
  • SUP 4: 0.6538 Low May 26 2020

AUDUSD traded lower into the London close before stabilising. The pair maintains a bearish tone - a fresh trend low this week reinforces bearish conditions. The move lower on Monday resulted in a break of support at 0.6762, the Jul 5 / 6 low and 0.6759, 50.0% of the Mar ‘20 - Feb ‘21 bull cycle. The breach sets the scene for a move towards 0.6685, the Mar 9 2020 high. On the upside, initial firm resistance is seen at 0.6869, the 20-day EMA.

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.