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Some downside continuation

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Bullish Extension

AUDUSD TECHS
  • RES 4: 0.7343 61.8% retracement of the Apr 5 - May 12 bear leg
  • RES 3: 0.7266 High May 4/5 and a bull trigger
  • RES 2: 0.7245 50.0% retracement of the Apr 5 - May 12 bear leg
  • RES 1: 0.7169 50-day EMA
  • PRICE: 0.7163 @ 15:44 BST May 27
  • SUP 1: 0.7036 Low May 25
  • SUP 2: 0.6950/29 Low May 18 / Low May 12 and the bear trigger
  • SUP 3: 0.6805 Low Jun 22 2020
  • SUP 4: 0.6784 0.764 proj of the Apr 5 - May 2 - 4 price swing

AUDUSD traded higher Friday and maintains a firmer short-term tone. The resumption of gains exposes the 50-day EMA, at 0.7169 today. This average marks an important resistance and a clear break is required to further strengthen bullish conditions. Gains are still considered corrective however and the primary trend direction is down. The bear trigger is 0.6829, May 12 low. Initial firm support to watch is at 0.7036, May 25 low.

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  • RES 4: 0.7343 61.8% retracement of the Apr 5 - May 12 bear leg
  • RES 3: 0.7266 High May 4/5 and a bull trigger
  • RES 2: 0.7245 50.0% retracement of the Apr 5 - May 12 bear leg
  • RES 1: 0.7169 50-day EMA
  • PRICE: 0.7163 @ 15:44 BST May 27
  • SUP 1: 0.7036 Low May 25
  • SUP 2: 0.6950/29 Low May 18 / Low May 12 and the bear trigger
  • SUP 3: 0.6805 Low Jun 22 2020
  • SUP 4: 0.6784 0.764 proj of the Apr 5 - May 2 - 4 price swing

AUDUSD traded higher Friday and maintains a firmer short-term tone. The resumption of gains exposes the 50-day EMA, at 0.7169 today. This average marks an important resistance and a clear break is required to further strengthen bullish conditions. Gains are still considered corrective however and the primary trend direction is down. The bear trigger is 0.6829, May 12 low. Initial firm support to watch is at 0.7036, May 25 low.