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Bullish Theme Remains In Place

AUDUSD TECHS
  • RES 4: 0.7917 High Mar 14, 2018 and a key resistance
  • RES 3: 0.7885 High Mar 15. 2018
  • RES 2: 0.7820 High Jan 6 and the bull trigger
  • RES 1: 0.7805 High Feb 16
  • PRICE: 0.7752 @ 06:48 GMT Feb 18
  • SUP 1: 0.7712 20-day EMA
  • SUP 2: 0.7651 Low Feb 8
  • SUP 3: 0.7583/64 Low Feb 5 / Low Feb 2 and the bear trigger
  • SUP 4: 0.7557 Low Dec 28

AUDUSD is unchanged and maintains a firm posture despite the recent pullback. Price action on Feb 5 highlighted a reversal signal following the inability to clear the 50-day EMA. The pair has breached resistance at 0.7704, Jan 29 high and this opens 0.7820, Jan 6 high and the bull trigger. On the downside, a break of 0.7564, Feb 2 low would resume recent bearish pressure. Initial support lies at 0.7712, the 20-day EMA.

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