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Approaching Key Resistance

AUDUSD TECHS
  • RES 4: 0.7599 High Jul 6
  • RES 3: 0.7534 High Jul 7
  • RES 2: 0.7503 High Jul 13
  • RES 1: 0.7478 High Sep 3 and the bull trigger
  • PRICE: 0.7463 @ 06:50 BST Oct 19
  • SUP 1: 0.7339 50-day EMA
  • SUP 2: 0.7288 Low Oct 8
  • SUP 3: 0.7226/7170 Low Oct 6 / Low Sep 29
  • SUP 4: 0.7106 Low Aug 20 key support

AUDUSD maintains a firmer short-term tone and has traded higher today. The pair remains above the 20- and 50-day EMAs. The recent break above these averages strengthened the short-term case for bulls and the focus is on 0.7478, Sep 3 high and a key short-term resistance. A breach of this hurdle would remove recent bearish considerations and set the scene for a continuation higher. Initial firm support is seen at 0.7339, the 50-day EMA.

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