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Key Support Still Exposed

AUDUSD TECHS
  • RES 4: 0.7202 High Jun 9
  • RES 3: 0.7138 High Jun 10
  • RES 2: 0.7083 50-day EMA
  • RES 1: 0.6998/7069 20-day EMA / High Jun 16
  • PRICE: 0.6882 @ 16:54 BST Jun 29
  • SUP 1: 0.6862/51 Low Jun 29
  • SUP 2: 0.6829 Low May 12 and the bear trigger
  • SUP 3: 0.6805 Low Jun 22 2020
  • SUP 4: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD traded lower into the Wednesday close, but the pair continues to consolidate above support at 0.6851, the Jun 14 low. Trend signals remain bearish and a resumption of bearish activity would signal scope for a test of key support and the bear trigger at 0.6829, May 12 low. Clearance of this support would confirm a continuation of the downtrend and open 0.6805, the Jun 22 2020 low. On the upside, 0.7069, Jun 16 high, remains a key short-term resistance.

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  • RES 4: 0.7202 High Jun 9
  • RES 3: 0.7138 High Jun 10
  • RES 2: 0.7083 50-day EMA
  • RES 1: 0.6998/7069 20-day EMA / High Jun 16
  • PRICE: 0.6882 @ 16:54 BST Jun 29
  • SUP 1: 0.6862/51 Low Jun 29
  • SUP 2: 0.6829 Low May 12 and the bear trigger
  • SUP 3: 0.6805 Low Jun 22 2020
  • SUP 4: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD traded lower into the Wednesday close, but the pair continues to consolidate above support at 0.6851, the Jun 14 low. Trend signals remain bearish and a resumption of bearish activity would signal scope for a test of key support and the bear trigger at 0.6829, May 12 low. Clearance of this support would confirm a continuation of the downtrend and open 0.6805, the Jun 22 2020 low. On the upside, 0.7069, Jun 16 high, remains a key short-term resistance.