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Approaching Resistance

AUDUSD TECHS
  • RES 4: 0.7371 High Nov 15, 2021
  • RES 3: 0.7345 2.0% 10-dma envelope
  • RES 2: 0.7314 High Jan 13 and a key resistance
  • RES 1: 0.7290 High Mar 1
  • PRICE: 0.7245 @ 17:23 GMT Mar 1
  • SUP 1: 0.7184 50-day EMA
  • SUP 2: 0.7095 Low Feb 24 and a key short-term support
  • SUP 3: 0.7086/7052 Low Feb 14 / Low Feb 4
  • SUP 4: 0.6968/6963 Low Jan 28 / Low Jul 16, 2020

AUDUSD traded higher early Tuesday to print 0.7290, topping first resistance at 0.7284 in the process. A key resistance intersects just above at 0.7314, Jan 13 high. Clearance would strengthen the case for bulls and open 0.7371, Nov 15 high. A key short-term support has been defined at 0.7095, the Feb 24 low where a break would instead highlight a bearish threat and expose 0.6968, the Feb 14 low and a key support.

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