Free Trial

Trend Conditions Still Bullish

AUDUSD TECHS
  • RES 4: 0.7617 High Jun 25
  • RES 3: 0.7599 High Jul 6 2021
  • RES 2: 0.7556 High Oct 28 and a key resistance
  • RES 1: 0.7540/65 High Mar 28 / 2.0% 10-dma envelope
  • PRICE: 0.7497 @ 17:09 GMT Mar 29
  • SUP 1: 0.7450/7376 Low Mar 23 / Low Mar 22
  • SUP 2: 0.7372 20-day EMA
  • SUP 3: 0.7289 50-day EMA
  • SUP 4: 0.7165 Low Mar 15 and a key support

AUDUSD is trading below its recent YTD and multi-month highs. From a trend perspective, conditions remain bullish. Last week’s important technical break was the move above 0.7441, Mar 7 high, marking an extension of the strong reversal from 0.7165, Mar 15 low. This reinforces the current bull cycle that began Jan 28. The break of 0.7441 signals scope for a climb towards 0.7556, the Oct 28 high. Initial firm support is seen at 0.7376.

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.