April 19, 2022 19:30 GMT
Bearish Focus
AUDUSD TECHS
- RES 4: 0.7661 High Apr 5 and key resistance
- RES 3: 0.7593 Hgh Apr 6
- RES 2: 0.7519 High Apr 7
- RES 1: 0.7432/93 20-day EMA / Apr 12 high
- PRICE: 0.7370 @ 15:41 BST Apr 19
- SUP 1: 0.7343/40 Low Apr 18 / 50-DMA
- SUP 2: 0.7282 76.4% retracement of the Mar 15 - Apr 5 climb
- SUP 3: 0.7283 Low Mar 17
- SUP 4: 0.7181 Low Mar 16
AUDUSD remains vulnerable near-term following the recent pullback from 0.7661, Apr 5 high. Yesterday’s move lower confirmed a bearish start to this week’s trading session. The pair has traded through both the 20- and 50-day EMAs, reinforcing current bearish conditions and signalling scope for an extension lower. The focus is on 0.7282, a Fibonacci retracement. On the upside, resistance is at 0.7493, Apr 12 high.
132 words