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Bullish Price Structure

AUDUSD TECHS
  • RES 4: 0.7917 High Mar 14, 2018 and a key resistance
  • RES 3: 0.7885 High Mar 15. 2018
  • RES 2: 0.7813 High Apr 19, 2018
  • RES 1: 0.7742 High Dec 31
  • PRICE: 0.7709 @ 06:20 GMT Jan 4
  • SUP 1: 0.7640 High Dec 17 and a recent breakout level
  • SUP 2: 0.7603 Low Dec 30
  • SUP 3: 0.7569/57 20-day EMA / Low Dec 28
  • SUP 4: 0.7517 Low Dec 22

AUDUSD ended 2020 on a firm note. The pair last week breached recent resistance at 0.7640, Dec 17 high and a bull trigger. This confirms a resumption of the uptrend and opens 0.7732 next, Apr 20, 2018 high. The break higher also reinforces underlying bullish conditions by maintaining the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode too. Firm support is at 0.7557, Dec 28 low.

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