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Bounce Firms Further

AUSSIE TECHS
  • RES 4: 0.7464 High Jul 25, 2018
  • RES 3: 0.7414 High Sep 1 and the bull trigger
  • RES 2: 0.7362 76.4% retracement of the of the Sep 1 - 9 sell-off
  • RES 1: 0.7340 High Sep 3
  • PRICE: 0.7299 @ 17:03 BST Sep 15
  • SUP 1: 0.7248 Low Sep 10
  • SUP 2: 0.7192 Low Sep 9 and a key support
  • SUP 3: 0.7152 50-day EMA
  • SUP 4: 0.7136 Low Aug 20 and the bear trigger

AUDUSD extended the stronger start to the week, touching 0.7343 on the bounce. The strong rally on Aug 8 confirmed a clear break of former resistance at 0.7276, Aug 19 high. The breach resumed the underlying uptrend and maintains the bullish price sequence of higher highs and higher lows. 0.7414, Sep 1 high is the trigger for a resumption of the uptrend. Initial firm support is 0.7192, Sep 9 low. The key support is at 0.7136, Aug 20 low.

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