August 22, 2024 06:59 GMT
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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