Free Trial

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Testing Trendline Resistance

  • RES 4: 0.7318 76.4% retracement September Sell-Off
  • RES 3: 0.7318 High Sep 21
  • RES 2: 0.7258 61.8% retracement September Sell-Off
  • RES 1: 0.7243 High Oct 10 and the intraday bull trigger
  • PRICE: 0.7234 @ 06:24 BST Oct 12
  • SUP 1: 0.7160 20-day EMA
  • SUP 2: 0.7096 Low Oct 7 and the intraday bear trigger
  • SUP 3: 0.7070 Low Sep 29
  • SUP 4: 0.7006 Low Sep 25 and the bear trigger

AUDUSD rallied sharply higher Friday clearing resistance at 0.7209, Oct 1 and 6 high. This has brought the pair into contact with trendline resistance drawn off the Sep 1 high. The line intersects at 0.7232 today. A move above Friday's high of 0.7243, would confirm a breach of the line and reinforce S/T bullish conditions, opening 0.7258, a Fibonacci retracement. Initial support is at 0.7160, a break would highlight a possible failure at the trendline.

To read the full story

Why Subscribe to


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.