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Free AccessTechnical Signals Remain Bearish
- RES 4: 0.6871 High Dec 28 and the bull trigger
- RES 3: 0.6729/71 High Jan 12 / 3
- RES 2: 0.6663 High Jan 16
- RES 1: 0.6595/6625 High Feb 22 / High Jan 30 and key resistance
- PRICE: 0.6504 @ 16:49 GMT Feb 29
- SUP 1: 0.6478/6443 Low Feb 15 / 13 and the bear trigger
- SUP 2: 0.6412 76.4% Fibonacci retracement for Oct - Dec upleg
- SUP 3: 0.6360 Low Nov 14
- SUP 4: 0.6339 Low Nov 10
AUDUSD traded to another pullback low Thursday. Recent gains appear to be a correction and the downtrend that started Dec 28, remains intact. The pair has recently attempted to clear resistance around the 50-day EMA, at 0.6570. A clear break of this average is required to suggest scope for a stronger recovery. On the downside, the bear trigger lies at 0.6443, the Feb 13 low. A breach would open 0.6412, a Fibonacci retracement point.
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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.