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Bear Threat Still Present

AUDUSD TECHS
  • RES 4: 0.6729 High Jan 12
  • RES 3: 0.6708 61.8% retracement of the Dec 28 - Feb 13 bear cycle
  • RES 2: 0.6668 High Mar 8 and the bull trigger
  • RES 1: 0.6559/6644 50-day EMA / High Apr 9
  • PRICE: 0.6461 @ 16:31 BST Apr 15
  • SUP 1: 0.6456 Low Apr 12
  • SUP 2: 0.6443 Low Feb 13 and the bear trigger
  • SUP 3: 0.6412 76.4% Fibonacci retracement for Oct - Dec upleg
  • SUP 4: 0.6339 Low Nov 10

AUDUSD remains vulnerable following last week’s bearish price action. A continuation lower would signal scope for a test of key support and the bear trigger at 0.6443, the Feb 13 low. Clearance of this level would highlight an important short-term technical break. Key resistance is unchanged at 0.6668, the Mar 8 high. A reversal higher and a break of this level is required to signal a potential reversal.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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