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- RES 4: 0.6921 High Feb 20
- RES 3: 0.6861 50.0% retracement of the Feb 2 - Mar 10 bear leg
- RES 2: 0.6824 High Feb 24
- RES 1: 0.6713/6818 50-day EMA / High May 10
- PRICE: 0.6691 @ 16:16 BST May 15
- SUP 1: 0.6636 Low May 12
- SUP 2: 0.6565 Low May 10 and the bear trigger
- SUP 3: 0.6547 61.8% of the Oct - Feb bull cycle
- SUP 4: 0.6403 76.4% of the Oct - Feb bull cycle
AUDUSD’s previous positive tone faded further Friday. Last week’s gains resulted in a print above key resistance at 0.6806, Apr 14 high and resistance to watch this week is 0.6818, the May 10 high. A clear break of this level is required to reinstate a bullish theme. On the downside, a continuation lower would expose key support at 0.6565, the Mar 10 low. Clearance of this level would confirm a resumption of the bear cycle that started Feb 2.
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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.