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AUDUSD TECHS: 200-dma Cracks, Momentum Picks Up

AUDUSD TECHS
  • RES 4: 0.6895 High Jul 13 / 14 2023    
  • RES 3: 0.6871 High Dec 28 and a key resistance                
  • RES 2: 0.6839 High Jan 02
  • RES 1: 0.6799 High Jul 11 
  • PRICE: 0.6548 @ 15:48 BST Jul 25
  • SUP 1: 0.6530 61.8% retracement for Apr - Jul Upleg
  • SUP 2: 0.6515 Low Jul 25
  • SUP 3: 0.6466 76.4% retracement for Apr - Jul Upleg
  • SUP 4: 0.6465 Low May 1

The downleg in AUDUSD extended Thursday as the 200-dma support cracked at the Wednesday close. The move has accelerated to put the pair at new multi-month lows and test the 0.6530 key retracement level for the latest multi-month rally. This week’s bearish developments expose prices to a further correction toward 0.6465, a key support which coincides with another Fib level at 0.6466.  

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