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Bull Trend Resumption

  • RES 4: 0.7516 76.4% retracement of the 2018 - 2020 Sell-off
  • RES 3: 0.7394 High Dec 4, 2018
  • RES 2: 0.7356 High Dec 5, 2018
  • RES 1: 0.7323 Intraday high
  • PRICE: 0.7317 @ 10:52 BST Aug 28
  • SUP 1: 0.7217 Low Aug 27
  • SUP 2: 0.7175 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 with the pair trading to fresh trend highs above former resistance at 0.7276, Aug 19 high. The break confirms a resumption of the underlying uptrend and maintains the bullish price sequence of higher highs and higher lows. Attention is on 0.7356 next, Dec 5 2018 high ahead of 0.7394, Dec 4 high 2018. On the downside, key trend support lies at 0.7136, Aug 20 low.

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