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50-Day EMA Being Tested

AUDUSD TECHS
  • RES 4: 0.6993 76.4% retracement of the Feb 2 - May 31 bear leg
  • RES 3: 0.6936 High Feb 16
  • RES 2: 0.6900 High Jun 16 and key resistance
  • RES 1: 0.6847 High Jul 20
  • PRICE: 0.6729 @ 16:11 BST Jul 27
  • SUP 1: 0.6723/15 50-day EMA / Low Jul 24 & 27
  • SUP 2: 0.6651 Low Jul 11
  • SUP 3: 0.6619 Low Jul 7
  • SUP 4: 0.6596 Low Jun 29 and key support

AUDUSD remains in a bearish cycle but has managed to find some support this week. Price has recently pierced the 50-day EMA - at 0.6723 and a key short-term support. An extension lower would open 0.6651, the Jul 11 low. Further out, the next key support lies at 0.6596, the Jun 29 low. On the upside, a stronger reversal higher would expose 0.6847, the Jul 20 high. The key bull trigger is at 0.6900, the Jun 26 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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