Free Trial

Watching Support

AUDUSD TECHS
  • RES 4: 0.6956 High Aug 30
  • RES 3: 0.6909 76.4% retracement of the Aug 11 - Oct 13 downleg
  • RES 2: 0.6800 Round number resistance
  • RES 1: 0.6797 High Nov 15 and the bull trigger
  • PRICE: 0.6689 @ 20:40 GMT Nov 29
  • SUP 1: 0.6634 Low Nov 23
  • SUP 2: 0.6585 Low Nov 21 and the 50-day EMA
  • SUP 3: 0.6387 Low Nov 10
  • SUP 4: 0.6272 Low Nov 3 and a key support

The AUDUSD trend condition remains bullish and last week’s recovery reinforced this theme. Firm support to watch lies at 0.6585, the 50-day EMA. A clear break of this average would be seen as a bearish development and signal scope for a deeper retracement instead. On the upside, a resumption of gains and a break of 0.6797, the Nov 15 high, would resume the uptrend and open the 0.6800 handle and above.

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.