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AUDUSD TECHS: Trades Through The 50-Day EMA

AUDUSD TECHS
USForeign Exchange Technical AnalysisGlobalAPACAustraliaBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 0.6984 0.764 proj of the Aug 5 - 29 - Sep 11 price swing     
  • RES 3: 0.6942 High Sep 30 and the bull trigger              
  • RES 2: 0.6889 High Oct 3 
  • RES 1: 0.6790 20-day EMA 
  • PRICE: 0.6733 @ 08:10 BST Oct 11
  • SUP 1: 0.6702 Low Oct 10
  • SUP 2: 0.6646 38.2% retracement of the Aug 5 - Sep 30 bull leg   
  • SUP 3: 0.6622 Low Sep 11 and key support
  • SUP 4: 0.6576 61.8% retracement of the Aug 5 - Sep 30 bull leg 

The latest pullback in AUDUSD highlights a short-term corrective cycle and for now, a bearish theme remains intact. The pair has traded through both the 20- and 50-day EMAs. A clear break of the 50-day average, at 0.6750, would undermine a bullish theme and signal scope for a deeper retracement, towards 0.6622, the Sep 11 low and a key support. Key resistance and the bull trigger has been defined at 0.6942, the Sep 30 high.

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  • RES 4: 0.6984 0.764 proj of the Aug 5 - 29 - Sep 11 price swing     
  • RES 3: 0.6942 High Sep 30 and the bull trigger              
  • RES 2: 0.6889 High Oct 3 
  • RES 1: 0.6790 20-day EMA 
  • PRICE: 0.6733 @ 08:10 BST Oct 11
  • SUP 1: 0.6702 Low Oct 10
  • SUP 2: 0.6646 38.2% retracement of the Aug 5 - Sep 30 bull leg   
  • SUP 3: 0.6622 Low Sep 11 and key support
  • SUP 4: 0.6576 61.8% retracement of the Aug 5 - Sep 30 bull leg 

The latest pullback in AUDUSD highlights a short-term corrective cycle and for now, a bearish theme remains intact. The pair has traded through both the 20- and 50-day EMAs. A clear break of the 50-day average, at 0.6750, would undermine a bullish theme and signal scope for a deeper retracement, towards 0.6622, the Sep 11 low and a key support. Key resistance and the bull trigger has been defined at 0.6942, the Sep 30 high.