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Approaching Key Support

AUDUSD TECHS
  • RES 4: 0.7371 High Nov 15
  • RES 3: 0.7277/7314 High Jan 20 / High Jan 13
  • RES 2: 0.7208 50-day EMA
  • RES 1: 0.7130/7176 Low Jan 7 / 20-day EMA
  • PRICE: 0.7040 @ 06:35 GMT Jan 28
  • SUP 1: 0.7023 Intraday low
  • SUP 2: 0.6993/91 Low Dec 3 / Low Nov 2, 2020 and key support
  • SUP 3: 0.6963 Low Jul 16, 2020
  • SUP 4: 0.6921 Low Jul 14, 2020

AUDUSD traded sharply lower Thursday and has cleared 0.7082, Dec 20 low and 0.7069, 76.4% of the Dec 3 - Jan 13 upleg. The clear break of this latter level reinforces bearish conditions and clears the way for an extension towards the key support at 0.6993/91, the Dec 3 and Nov 2, 2020 lows. Moving average conditions remain in a bear mode, highlighting current sentiment. Initial resistance is at 0.7130.

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