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AUDUSD TECHS: MA Studies Highlight A Dominant Uptrend

AUDUSD TECHS
USForeign Exchange Technical AnalysisGlobalAPACAustraliaBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 0.7029 High Feb 14 ‘23       
  • RES 3: 0.7003 2.0% 10-dma envelope               
  • RES 2: 0.6984 0.764 proj of the Aug 5 - 29 - Sep 11 price swing
  • RES 1: 0.6942 High Sep 30 and the bull trigger
  • PRICE: 0.6842 @ 07:56 BST Oct 4
  • SUP 1: 0.6818 20-day EMA   
  • SUP 2: 0.6750 50-day EMA 
  • SUP 3: 0.6622 Low Sep 11 and key support 
  • SUP 4: 0.6608 Low Aug 16

An uptrend in AUDUSD remains intact and short-term weakness is considered corrective. Key resistance at 0.6824, the Aug 29 high, has recently been cleared confirming a resumption of the bull cycle that started Aug 5. Note too that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 0.6984 next, a Fibonacci projection. Initial firm support lies at 0.6818, the 20-day EMA.

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  • RES 4: 0.7029 High Feb 14 ‘23       
  • RES 3: 0.7003 2.0% 10-dma envelope               
  • RES 2: 0.6984 0.764 proj of the Aug 5 - 29 - Sep 11 price swing
  • RES 1: 0.6942 High Sep 30 and the bull trigger
  • PRICE: 0.6842 @ 07:56 BST Oct 4
  • SUP 1: 0.6818 20-day EMA   
  • SUP 2: 0.6750 50-day EMA 
  • SUP 3: 0.6622 Low Sep 11 and key support 
  • SUP 4: 0.6608 Low Aug 16

An uptrend in AUDUSD remains intact and short-term weakness is considered corrective. Key resistance at 0.6824, the Aug 29 high, has recently been cleared confirming a resumption of the bull cycle that started Aug 5. Note too that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 0.6984 next, a Fibonacci projection. Initial firm support lies at 0.6818, the 20-day EMA.