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Bearish Outlook

AUDUSD TECHS
  • RES 4: 0.6616 High Aug 16
  • RES 3: 0.6535 50-day EMA
  • RES 2: 0.6522 High Aug 30 and Sep 1 and the key resistance
  • RES 1: 0.6445 20-day EMA
  • PRICE: 0.6422 @ 21:12 BST Sep 13
  • SUP 1: 0.6357 Low Sep 6 and the bear trigger
  • SUP 2: 0.6287 2.00 proj of the Jun 16 - Jun 29 - Jul 13 price swing
  • SUP 3: 0.6272 Low Nov 3 2022 and a key support
  • SUP 4: 0.6215 2.236 proj of the Jun 16 - Jun 29 - Jul 13 price swing

The AUDUSD trend condition remains bearish and recent short-term gains are considered corrective. Key support and the bear trigger at 0.6365, the Aug 17 low, was pierced last week. A clear break of this level would confirm a resumption of the downtrend and pave the way for weakness towards 0.6272, the Nov 3 2022 low. Key short-term resistance to watch has been defined at 0.6522, the Aug 30 and Sep 1 high.

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