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Extends Break of the 50-Day EMA

AUDUSD TECHS
  • RES 4: 0.7465 76.4% retracement of the Apr 5 - May 12 bear leg
  • RES 3: 0.7400 Round number resistance
  • RES 2: 0.7343 61.8% retracement of the Apr 5 - May 12 bear leg
  • RES 1: 0.7202/7283 High Jun 9 / High Jun 3 and the bull trigger
  • PRICE: 0.7047 @ 15:56 BST Jun 10
  • SUP 1: 0.7038/7036 Low Jun 10 / May 25
  • SUP 2: 0.6950 Low May 18
  • SUP 3: 0.6829 Low May 12 and the bear trigger
  • SUP 4: 0.6805 Low Jun 22 2020

AUDUSD lower still Friday resulting in an extended break of the 50-day EMA, threatening the recent bull cycle. Price action has defined a key short-term resistance at 0.7283, Jun 3 high. A break of this level is required to reinstate a bullish outlook. An extension lower would expose support at 0.6950, May 18 low ahead of the key support and bear trigger at 0.6829, the May 12 low. A breach of this level would resume the broader downtrend.

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  • RES 4: 0.7465 76.4% retracement of the Apr 5 - May 12 bear leg
  • RES 3: 0.7400 Round number resistance
  • RES 2: 0.7343 61.8% retracement of the Apr 5 - May 12 bear leg
  • RES 1: 0.7202/7283 High Jun 9 / High Jun 3 and the bull trigger
  • PRICE: 0.7047 @ 15:56 BST Jun 10
  • SUP 1: 0.7038/7036 Low Jun 10 / May 25
  • SUP 2: 0.6950 Low May 18
  • SUP 3: 0.6829 Low May 12 and the bear trigger
  • SUP 4: 0.6805 Low Jun 22 2020

AUDUSD lower still Friday resulting in an extended break of the 50-day EMA, threatening the recent bull cycle. Price action has defined a key short-term resistance at 0.7283, Jun 3 high. A break of this level is required to reinstate a bullish outlook. An extension lower would expose support at 0.6950, May 18 low ahead of the key support and bear trigger at 0.6829, the May 12 low. A breach of this level would resume the broader downtrend.