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AUDUSD TECHS: Bullish Trend Structure

AUDUSD TECHS
USForeign Exchange Technical AnalysisGlobalAPACAustraliaBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 0.7029 High Feb 14 ‘23       
  • RES 3: 0.6984 0.764 proj of the Aug 5 - 29 - Sep 11 price swing               
  • RES 2: 0.6964 2.0% 10-dma envelope
  • RES 1: 0.6937 High Sep 27
  • PRICE: 0.6934 @ 15:22 BST Sep 27
  • SUP 1: 0.6792/6776 Low Sep 23 / 20-day EMA   
  • SUP 2: 0.6721 50-day EMA 
  • SUP 3: 0.6622 Low Sep 11 and key support 
  • SUP 4: 0.6608 Low Aug 16

AUDUSD remains firm, touching new multi-month highs ahead of the Friday close. The pair traded to a fresh trend high Friday. Key resistance at 0.6824, the Aug 29 high, has been breached. The break confirms a resumption of the bull cycle that started Aug 5 and a continuation of the move has seen 0.6915, a Fibonacci projection, taken out. For bears, a reversal lower would refocus attention on key short-term support at 0.6622, the Sep 11 low. First firm support is 0.6776, the 20-day EMA.  

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  • RES 4: 0.7029 High Feb 14 ‘23       
  • RES 3: 0.6984 0.764 proj of the Aug 5 - 29 - Sep 11 price swing               
  • RES 2: 0.6964 2.0% 10-dma envelope
  • RES 1: 0.6937 High Sep 27
  • PRICE: 0.6934 @ 15:22 BST Sep 27
  • SUP 1: 0.6792/6776 Low Sep 23 / 20-day EMA   
  • SUP 2: 0.6721 50-day EMA 
  • SUP 3: 0.6622 Low Sep 11 and key support 
  • SUP 4: 0.6608 Low Aug 16

AUDUSD remains firm, touching new multi-month highs ahead of the Friday close. The pair traded to a fresh trend high Friday. Key resistance at 0.6824, the Aug 29 high, has been breached. The break confirms a resumption of the bull cycle that started Aug 5 and a continuation of the move has seen 0.6915, a Fibonacci projection, taken out. For bears, a reversal lower would refocus attention on key short-term support at 0.6622, the Sep 11 low. First firm support is 0.6776, the 20-day EMA.