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Bullish Price Structure Holds

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: 0.7665 @ 20:20 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 is still trading near recent highs. The pair last week breached resistance at 0.7640, Dec 17 high and a bull trigger. This confirmed a resumption of the uptrend and opened 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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