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AUDUSD TECHS: Trend Needle Points North

AUDUSD TECHS
USForeign Exchange Technical AnalysisGlobalAPACAustraliaBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 0.7029 High Feb 14 ‘23       
  • RES 3: 0.6984 0.764 proj of the Aug 5 - 29 - Sep 11 price swing               
  • RES 2: 0.6977 2.0% 10-dma envelope
  • RES 1: 0.6942 High Sep 30
  • PRICE: 0.6890 @ 07:56 BST Oct 2
  • SUP 1: 0.6808 20-day EMA   
  • SUP 2: 0.6741 50-day EMA 
  • SUP 3: 0.6622 Low Sep 11 and key support 
  • SUP 4: 0.6608 Low Aug 16

An uptrend in AUDUSD remains intact and the pair traded to a fresh cycle high Monday, reinforcing the current bullish set-up. Key resistance at 0.6824, the Aug 29 high, has recently been cleared. The break confirmed a resumption of the bull cycle that started Aug 5. Sights are on 0.6984 next, a Fibonacci projection. On the downside, initial firm support lies at 0.6808, the 20-day EMA. A pullback would be considered corrective.

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  • RES 4: 0.7029 High Feb 14 ‘23       
  • RES 3: 0.6984 0.764 proj of the Aug 5 - 29 - Sep 11 price swing               
  • RES 2: 0.6977 2.0% 10-dma envelope
  • RES 1: 0.6942 High Sep 30
  • PRICE: 0.6890 @ 07:56 BST Oct 2
  • SUP 1: 0.6808 20-day EMA   
  • SUP 2: 0.6741 50-day EMA 
  • SUP 3: 0.6622 Low Sep 11 and key support 
  • SUP 4: 0.6608 Low Aug 16

An uptrend in AUDUSD remains intact and the pair traded to a fresh cycle high Monday, reinforcing the current bullish set-up. Key resistance at 0.6824, the Aug 29 high, has recently been cleared. The break confirmed a resumption of the bull cycle that started Aug 5. Sights are on 0.6984 next, a Fibonacci projection. On the downside, initial firm support lies at 0.6808, the 20-day EMA. A pullback would be considered corrective.