Remains Above Its Recent Lows

• RES 4: 0.7661 High Apr 5 and key resistance
• RES 3: 0.7593 High Apr 6
• RES 2: 0.7519 High Apr 7
• RES 1: 0.7493 Apr 12 high and key intraday resistance
• PRICE: 0.7399 @ 15:57 BST Apr 21
• SUP 1: 0.7349/43 50-DMA / Low Apr 18 and the bear trigger
• SUP 2: 0.7282 76.4% retracement of the Mar 15 - Apr 5 climb
• SUP 3: 0.7283 Low Mar 17
• SUP 4: 0.7181 Low Mar 16

AUDUSD is off its recent low of 0.7343 (Apr 18). Despite recent gains, the pair still appears vulnerable following the pullback from 0.7661, Apr 5 high. Price has recently traded below the 20- and 50-day EMAs, reinforcing bearish conditions and this highlights potential for an extension lower. A resumption of weakness would open 0.7282, a Fibonacci retracement. Resistance to watch is at 0.7493, Apr 12 high. A break would alter the picture.