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AUDUSD TECHS: Support Remains Intact

AUDUSD TECHS
  • RES 4: 0.6895 High Jul 13 / 14 2023    
  • RES 3: 0.6871 High Dec 28 and a key resistance                
  • RES 2: 0.6839 High Jan 02
  • RES 1: 0.6799 High Jul 11 
  • PRICE: 0.6693 @ 15:50 BST Jul 19
  • SUP 1: 0.6684 Low Jul 19 
  • SUP 2: 0.6666 50-day EMA
  • SUP 3: 0.6576 Low Jun 10 and a key support
  • SUP 4: 0.6558 Low May 8

AUDUSD bullish conditions remain intact and the latest pullback appears to be a correction. Initial firm support has broken at 0.6712, the 20-day EMA. A close below here could signal scope for a deeper retracement, towards 0.6666, the 50-day EMA. The bull trigger is at 0.6799, the Jul 11 high. A break would resume the uptrend and pave the way for a climb towards 0.6839 next, the Jan 2 high. Moving average studies are in a bull-mode set-up highlighting a rising trend. 

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