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AUDUSD TECHS: Watching Resistance

AUDUSD TECHS
USForeign Exchange Technical AnalysisGlobalAPACAustraliaBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 0.6900 High Jun 16 ‘23       
  • RES 3: 0.6871 High Dec 28 and a key resistance                  
  • RES 2: 0.6839 High Jan 2
  • RES 1: 0.6767/6824 High Sep 6 / High Aug 29 and the bull trigger 
  • PRICE: 0.6725 @ 07:56 BST Sep 16
  • SUP 1: 0.6678/6622 50-day EMA / Low Sep 11   
  • SUP 2: 0.6608 Low Aug 16  
  • SUP 3: 0.6587 50.0% retracement of the Aug 5- 29 rally 
  • SUP 4: 0.6565 Low Aug 12 

A short-term bear cycle in AUDUSD remains in place and the latest recovery appears to be a correction - for now. A resumption of weakness would signal scope for an extension towards 0.6608, the Aug 16 low. Initial firm resistance has been defined at 0.6767, the Jun 6 high. Clearance of this level is required to highlight a bullish reversal and expose key resistance at 0.6824, the Aug 29 high.

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  • RES 4: 0.6900 High Jun 16 ‘23       
  • RES 3: 0.6871 High Dec 28 and a key resistance                  
  • RES 2: 0.6839 High Jan 2
  • RES 1: 0.6767/6824 High Sep 6 / High Aug 29 and the bull trigger 
  • PRICE: 0.6725 @ 07:56 BST Sep 16
  • SUP 1: 0.6678/6622 50-day EMA / Low Sep 11   
  • SUP 2: 0.6608 Low Aug 16  
  • SUP 3: 0.6587 50.0% retracement of the Aug 5- 29 rally 
  • SUP 4: 0.6565 Low Aug 12 

A short-term bear cycle in AUDUSD remains in place and the latest recovery appears to be a correction - for now. A resumption of weakness would signal scope for an extension towards 0.6608, the Aug 16 low. Initial firm resistance has been defined at 0.6767, the Jun 6 high. Clearance of this level is required to highlight a bullish reversal and expose key resistance at 0.6824, the Aug 29 high.