Free Trial

Trend Structure Remains Bullish

AUDUSD TECHS
  • RES 4: 0.6871 High Dec 28 and a key resistance
  • RES 3: 0.6839 High Jan 02
  • RES 2: 0.6771 High Jan 03
  • RES 1: 0.6761 High Jul 08
  • PRICE: 0.6742 @ 07:32 BST Jul 09
  • SUP 1: 0.6675 20-day EMA
  • SUP 2: 0.6639 50-day EMA
  • SUP 3: 0.6576 Low Jun 10 and a key support
  • SUP 4: 0.6558 Low May 8

AUDUSD bullish conditions remain intact and the pair is trading just below its latest high. A key short-term resistance at 0.6714, the May 16 high, has been cleared. The move higher highlights a range breakout and confirms a resumption of the bull leg that started Apr 19. A continuation higher would open 0.6771 next, the Jan 3 high. Key short-term support has been defined at 0.6576, the Jun 10 low. Initial firm support is at 0.6639, the 50-day EMA.

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.