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Bull Trend Extends

AUSSIE TECHS
  • RES 4: 0.7677 High June 6, 2018
  • RES 3: 0.7516 76.4% retracement of the 2018 - 2020 Sell-off
  • RES 2: 0.7467 3.0% 10-dma envelope
  • RES 1: 0.7414 High Sep 1
  • PRICE: 0.7376 @ 16:22 BST Sep 1
  • SUP 1: 0.7340 Low Aug 31
  • SUP 2: 0.7255 Low Aug 28
  • SUP 3: 0.7210 20-day EMA
  • SUP 4: 0.7136/09 Low Aug 20 / Low Aug 12 and the bear trigger

AUDUSD bulls remain in control following the firm finish to last week's session and the extension so far this week. Friday's rally confirmed a clear break of former resistance at 0.7276, Aug 19 high. The breach also confirms a resumption of the underlying uptrend and maintains the bullish price sequence of higher highs and higher lows. Attention is on 0.7467 next, a volatility band resistance. On the downside, 0.7340 is initial support.

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