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AUDUSD TECHS: Recovery Extends

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: 0.6767/6824 High Sep 6 / High Aug 29 and the bull trigger 
  • PRICE: 0.6741 @ 20:16 BST Sep 16
  • SUP 1: 0.6678/6622 50-day EMA / Low Sep 11   
  • SUP 2: 0.6608 Low Aug 16  
  • SUP 3: 0.6587 50.0% retracement of the Aug 5- 29 rally 
  • SUP 4: 0.6565 Low Aug 12 

AUDUSD traded higher Monday. The climb undermines a recent bearish theme and key resistance to watch is 0.6824, the Aug 29 high. clearance of this level would resume the bull cycle that started Aug 5. Initial key near-term resistance to watch is 0.6767, Sep 6 high. For bears, a reversal lower would refocus attention on key short-term support at 0.6622, the Sep 11 low. A break of this level would signal scope for a deeper bearish retracement.

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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: 0.6767/6824 High Sep 6 / High Aug 29 and the bull trigger 
  • PRICE: 0.6741 @ 20:16 BST Sep 16
  • SUP 1: 0.6678/6622 50-day EMA / Low Sep 11   
  • SUP 2: 0.6608 Low Aug 16  
  • SUP 3: 0.6587 50.0% retracement of the Aug 5- 29 rally 
  • SUP 4: 0.6565 Low Aug 12 

AUDUSD traded higher Monday. The climb undermines a recent bearish theme and key resistance to watch is 0.6824, the Aug 29 high. clearance of this level would resume the bull cycle that started Aug 5. Initial key near-term resistance to watch is 0.6767, Sep 6 high. For bears, a reversal lower would refocus attention on key short-term support at 0.6622, the Sep 11 low. A break of this level would signal scope for a deeper bearish retracement.