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AUDUSD TECHS: Multi-month Highs

AUDUSD TECHS
  • RES 4: 0.6771 High Jan 3                  
  • RES 3: 0.6751 76.4% retracement of the Dec 28 - Apr 19 bear leg   
  • RES 1: 0.6734 High Jul 3
  • PRICE: 0.6717 @ 16:48 BST Jul 03
  • SUP 1: 0.6576 Low Jun 10 and a key support 
  • SUP 2: 0.6558 Low May 8
  • SUP 3: 0.6539 50.0% retracement of the Apr 19 - May 16 bull leg 
  • SUP 4: 0.6497 61.8% retracement of the Apr 19 - May 16 bull leg 

AUDUSD traded higher into the Wednesday close on the back of a soft set of US data releases, helping the pair cross the bull trigger in the process. Clearance of 0.6714 opens 0.6751, a Fibonacci retracement. A break of 0.6576 would expose 0.6558 initially, the May 8 low. Looking at MA studies, they remain in a bull-mode set-up and highlight an uptrend.   

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