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AUDUSD TECHS: Sights Are On Key Resistance

AUDUSD TECHS
USForeign Exchange Technical AnalysisAPACAustraliaBulletGlobalForeign Exchange BulletsRegionNorth America
  • RES 4: 0.6871 High Dec 28 and a key resistance      
  • RES 3: 0.6839 High Jan 2                   
  • RES 2: 0.6799 High Jul 11 and key resistance
  • RES 1: 0.6764 High Jul 16
  • PRICE: 0.6741 @ 07:59 BST Aug 22
  • SUP 1: 0.6630 50-day EMA   
  • SUP 2: 0.6571 Low Aug 15 
  • SUP 3: 0.6508/6350 Low Aug 8/ 5 and the bear trigger 
  • SUP 4: 0.6339 Low Nov 10’23

A bull cycle in AUDUSD remains intact and the pair is trading at its recent highs. The latest gains have cancelled a recent bearish theme. Price has cleared 0.6693, 76.4% of the Jul 11 - Aug 5 bear leg. The clear break of this price point also strengthens a bullish theme and signals scope for a climb towards 0.6799, the Jul 11 high. Initial firm support to watch lies at 0.6571, the Aug 15 low.

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  • RES 4: 0.6871 High Dec 28 and a key resistance      
  • RES 3: 0.6839 High Jan 2                   
  • RES 2: 0.6799 High Jul 11 and key resistance
  • RES 1: 0.6764 High Jul 16
  • PRICE: 0.6741 @ 07:59 BST Aug 22
  • SUP 1: 0.6630 50-day EMA   
  • SUP 2: 0.6571 Low Aug 15 
  • SUP 3: 0.6508/6350 Low Aug 8/ 5 and the bear trigger 
  • SUP 4: 0.6339 Low Nov 10’23

A bull cycle in AUDUSD remains intact and the pair is trading at its recent highs. The latest gains have cancelled a recent bearish theme. Price has cleared 0.6693, 76.4% of the Jul 11 - Aug 5 bear leg. The clear break of this price point also strengthens a bullish theme and signals scope for a climb towards 0.6799, the Jul 11 high. Initial firm support to watch lies at 0.6571, the Aug 15 low.