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Approaching Resistance At The 50-Day EMA

AUDUSD TECHS
  • RES 4: 0.7034 76.4% retracement of the Aug 11 - Sep 7 bear leg
  • RES 3: 0.7009 High Aug 26 and a key short-term resistance
  • RES 2: 0.6970 61.8% retracement of the Aug 11 - Sep 7 bear leg
  • RES 1: 0.6910 50-day EMA
  • PRICE: 0.6878 @ 07:02 BST Sep 13
  • SUP 1: 0.6747/0.6699 Low Sep 9 / 7
  • SUP 2: 0.6682 Low Jul 14 and the bear trigger
  • SUP 3: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing
  • SUP 4: 0.6612 Low May 29

A bearish theme in AUDUSD remains intact and short-term gains are still considered corrective. The pair has cleared the 20-day EMA and attention is on the 50-day EMA, at 0.6910. This represents an important short-term resistance and a break would signal scope for a stronger bounce, opening 0.7009, the Aug 26 high. On the downside, a resumption of weakness would refocus attention on 0.6682, the Jul 14 low.

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