Free Trial

Tops Key Resistance

AUDUSD TECHS
  • RES 4: 0.7341 61.8% retracement of the Oct 28 - Dec 3 downleg
  • RES 3: 0.7312 Former channel base drawn from the Aug 20 low
  • RES 2: 0.7278 1.0% 10-dma envelope
  • RES 1: 0.7276 High Dec 30
  • PRICE: 0.7269 @ 15:31 GMT Dec 30
  • SUP 1: 0.7173 20-day EMA
  • SUP 2: 0.7082/7040 Low Dec 20 / Low Dec 7
  • SUP 3: 0.6993/91 Low Dec 3 / Low Nov 2 2020 and a key support
  • SUP 4: 0.6963 Low Jul 16 2020

AUDUSD breached the Dec 16 high of 0.7224 ahead of the holiday break and has strengthened since, triggering a resumption of bullish activity. The 50-day EMA at 0.7233 has alsos been cleared, strengthening bullish conditions and the focus is on 0.7312, former channel base drawn from the Aug 20 low. Key short-term support has been defined at 0.7082, the Dec 20 low. A break would reinstate a bearish theme and open the key support zone at 0.6993/91.

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.