• 678 days Will The ECB Continue To Hike Rates?
  • 678 days Forbes: Aramco Remains Largest Company In The Middle East
  • 680 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,080 days Could Crypto Overtake Traditional Investment?
  • 1,084 days Americans Still Quitting Jobs At Record Pace
  • 1,086 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,089 days Is The Dollar Too Strong?
  • 1,090 days Big Tech Disappoints Investors on Earnings Calls
  • 1,091 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,092 days China Is Quietly Trying To Distance Itself From Russia
  • 1,093 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,097 days Crypto Investors Won Big In 2021
  • 1,097 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,098 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,100 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,100 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,104 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,104 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,105 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,107 days Are NFTs About To Take Over Gaming?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

  1. Home
  2. Markets
  3. Other

AUD/USD: Technical Deteriorations Are Increasing

AUD/USD has thus far failed to break a key resistance area (50% retracement, 200 day moving average and 0.9792). The recent break of the support at 0.9572 (see also the rising trendline) strengthens our view of a medium term phase of weakness. Monitor the test of the support at 0.9499 (16/10/2013 low). Other supports can be found at 0.9388 (07/10/2013 low) and 0.9281. A resistance now lies at 0.9624 (25/10/2013 high).

The long-term technical pattern remains negative thus far. Therefore, we expect the strong resistance at 0.9792 (03/06/2013 high, see also the 200 day moving average) to cap the medium-term upside potential and lead to a new phase of weakness for AUD/USD.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment