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AUDUSD TECHS: Corrective Pullback

AUDUSD TECHS
USForeign Exchange Technical AnalysisGlobalAPACAustraliaBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 0.6900 High Jun 16 ‘23       
  • RES 3: 0.6871 High Dec 28 and a key resistance                  
  • RES 2: 0.6839 High Jan 2
  • RES 1: 0.6824 High Aug 29
  • PRICE: 0.6738 @ 07:49 BST Sep 3
  • SUP 1: 0.6714/6670 20- and 50-day EMA values   
  • SUP 2: 0.6571 Low Aug 15 
  • SUP 3: 0.6508/6350 Low Aug 8/ 5 and the bear trigger 
  • SUP 4: 0.6339 Low Nov 10’23

A bull cycle in AUDUSD remains intact and the latest pullback is considered corrective. Last week’s gains resulted in a print above 0.6799, the Jul 11 / Aug 23 high and a bull trigger. A clear break of this hurdle would strengthen a bullish theme and pave the way for an extension towards 0.6871, the Dec 28 ‘23 high and the next key resistance. Initial firm support to watch lies at 0.6714, the 20-day EMA.

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  • RES 4: 0.6900 High Jun 16 ‘23       
  • RES 3: 0.6871 High Dec 28 and a key resistance                  
  • RES 2: 0.6839 High Jan 2
  • RES 1: 0.6824 High Aug 29
  • PRICE: 0.6738 @ 07:49 BST Sep 3
  • SUP 1: 0.6714/6670 20- and 50-day EMA values   
  • SUP 2: 0.6571 Low Aug 15 
  • SUP 3: 0.6508/6350 Low Aug 8/ 5 and the bear trigger 
  • SUP 4: 0.6339 Low Nov 10’23

A bull cycle in AUDUSD remains intact and the latest pullback is considered corrective. Last week’s gains resulted in a print above 0.6799, the Jul 11 / Aug 23 high and a bull trigger. A clear break of this hurdle would strengthen a bullish theme and pave the way for an extension towards 0.6871, the Dec 28 ‘23 high and the next key resistance. Initial firm support to watch lies at 0.6714, the 20-day EMA.