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AUDUSD TECHS: Has Traded Through Resistance

AUDUSD TECHS
USForeign Exchange Technical AnalysisGlobalAPACAustraliaBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 0.6915 0.618 proj of the Aug 5 - 29 - Sep 11 price swing       
  • RES 3: 0.6900 High Jun 16 ‘23                 
  • RES 2: 0.6871 High Dec 28 and a key resistance
  • RES 1: 0.6854 High Sep 23
  • PRICE: 0.6845 @ 20:24 BST Sep 24
  • SUP 1: 0.6734 20-day EMA   
  • SUP 2: 0.6696 50-day EMA 
  • SUP 3: 0.6622 Low Sep 11 and key support 
  • SUP 4: 0.6608 Low Aug 16

AUDUSD remains firm and the pair traded higher last week and Monday. Key resistance at 0.6824, the Aug 29 high, has been breached. A clear break of this hurdle would confirm a resumption of the bull cycle that started Aug 5 and pave the way for a climb towards 0.6900, the Jun 16 ‘23 high. For bears, a reversal lower would refocus attention on key short-term support at 0.6622, the Sep 11 low. First support is 0.6726, the 20-day EMA.

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  • RES 4: 0.6915 0.618 proj of the Aug 5 - 29 - Sep 11 price swing       
  • RES 3: 0.6900 High Jun 16 ‘23                 
  • RES 2: 0.6871 High Dec 28 and a key resistance
  • RES 1: 0.6854 High Sep 23
  • PRICE: 0.6845 @ 20:24 BST Sep 24
  • SUP 1: 0.6734 20-day EMA   
  • SUP 2: 0.6696 50-day EMA 
  • SUP 3: 0.6622 Low Sep 11 and key support 
  • SUP 4: 0.6608 Low Aug 16

AUDUSD remains firm and the pair traded higher last week and Monday. Key resistance at 0.6824, the Aug 29 high, has been breached. A clear break of this hurdle would confirm a resumption of the bull cycle that started Aug 5 and pave the way for a climb towards 0.6900, the Jun 16 ‘23 high. For bears, a reversal lower would refocus attention on key short-term support at 0.6622, the Sep 11 low. First support is 0.6726, the 20-day EMA.