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Bull Trend Resumes

AUSSIE TECHS
  • RES 4: 0.7516 76.4% retracement of the 2018 - 2020 Sell-off
  • RES 3: 0.7437 3.0% 10-dma envelope
  • RES 2: 0.7394 High Dec 4, 2018
  • RES 1: 0.7381 Intraday high
  • PRICE: 0.7355 @ 10:35 BST Aug 31
  • SUP 1: 0.7255 Low Aug 28
  • SUP 2: 0.7193 20-day EMA
  • SUP 3: 0.7136/09 Low Aug 20 / Low Aug 12 and the bear trigger
  • SUP 4: 0.7076 Low Aug 3 and a key support

AUDUSD bulls are back following the firm finish to last week's session. Friday's strong rally has confirmed a clear break of the 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 0.7394 next, the Dec 4 2018 high. On the downside, key trend support lies at 0.7136, Aug 20 low.

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