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AUDUSD TECHS: Recovery Extends

AUDUSD TECHS
USRegionGlobalBulletAPACAustraliaNorth America
  • RES 4: 0.6744 High Jul 18     
  • RES 3: 0.6693 76.4% retracement of the Jul 11 - Aug 5 bear leg                 
  • RES 2: 0.6646 High Jul 23  
  • RES 1: 0.6616 50-day EMA   
  • PRICE: 0.6576 @ 16:33 BST Aug 9
  • SUP 1: 0.6472/6350 Low Aug 6 / 5 
  • SUP 2: 0.6339 Low Nov 10’23   
  • SUP 3: 0.6315 Low Oct 31 ‘23   
  • SUP 4: 0.6270 Low Oct 26 ‘23 and a key support  

A bearish theme is AUDUSD remains intact. However, from a short-term perspective, a corrective cycle is in play and the pair continues to appreciate this week. Price is through the 20-day EMA and attention turns to the 50-day EMA, at 0.6616. A clear break of this average would undermine a bearish theme and signal scope for stronger gains. For bears, a reversal would refocus attention on the Aug 5 low and bear trigger, at 0.6350.     
 

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  • RES 4: 0.6744 High Jul 18     
  • RES 3: 0.6693 76.4% retracement of the Jul 11 - Aug 5 bear leg                 
  • RES 2: 0.6646 High Jul 23  
  • RES 1: 0.6616 50-day EMA   
  • PRICE: 0.6576 @ 16:33 BST Aug 9
  • SUP 1: 0.6472/6350 Low Aug 6 / 5 
  • SUP 2: 0.6339 Low Nov 10’23   
  • SUP 3: 0.6315 Low Oct 31 ‘23   
  • SUP 4: 0.6270 Low Oct 26 ‘23 and a key support  

A bearish theme is AUDUSD remains intact. However, from a short-term perspective, a corrective cycle is in play and the pair continues to appreciate this week. Price is through the 20-day EMA and attention turns to the 50-day EMA, at 0.6616. A clear break of this average would undermine a bearish theme and signal scope for stronger gains. For bears, a reversal would refocus attention on the Aug 5 low and bear trigger, at 0.6350.