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Bull Flag

AUDUSD TECHS
  • RES 4: 0.7653 2.0% 10-dma envelope
  • RES 3: 0.7617/27 High Jun 25 / 2.0% Upper Bollinger Band
  • RES 2: 0.7599 High Jul 6 2021
  • RES 1: 0.7556 High Oct 28 / Apr 04 and a key resistance
  • PRICE: 0.7543 @ 17:46 BST Apr 4
  • SUP 1: 0.7450 Low Mar 23
  • SUP 2: 0.7414/7376 20-day EMA / Low Mar 22
  • SUP 3: 0.7320 50-day EMA
  • SUP 4: 0.7283 Low Mar 17

AUDUSD saw some interest into the London close, helping the price rally to touch new multi-month highs of 0.7556 - equalling the mark last seen in late October. Monday’s strength confirms the bull flag formation speculated last week and exposes gains toward the July 2021 levels of 0.7599. This confirms the resumption of the bull cycle that started Jan 28. Initial firm support is seen at 0.7414, the 20-day EMA.

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