Free Trial

Trades Through Key Support

AUDUSD TECHS
  • RES 4: 0.6723 High Aug 1
  • RES 3: 0.6652 50-day EMA
  • RES 2:0.6593 20-day EMA
  • RES 1: 0.6522 High Aug 15
  • PRICE: 0.6462 @ 08:01 BST Aug 16
  • SUP 1: 0.6428 Intraday low
  • SUP 2: 0.6403 76.4% retracement of the Oct 13 ‘22 - Feb 2 bull leg
  • SUP 3: 0.6387 Low Nov 10 2022
  • SUP 4: 0.6285 Low Nov 4 2022

Short-term AUDUSD trend conditions remain bearish and today’s move lower reinforces the current bearish theme. The pair has breached support at 0.6458, the May 31 low and bear trigger. This reinforces a downtrend and paves the way for weakness towards 0.6403, a Fibonacci retracement point. On the upside, resistance to watch is at 0.6522, yesterday’s low. A firmer resistance is at the 20-day EMA - at 0.6593.

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.