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Clears The 20-Day EMA

AUDUSD TECHS
  • RES 4: 0.7141 76.4% retracement of the Jun 3 - Jul 14 downleg
  • RES 3: 0.7069 High Jun 16
  • RES 2: 0.6964 50-day EMA
  • RES 1: 0.6912 38.2% retracement of the Jun 3 - Jul 14 downleg
  • PRICE: 0.6893 @ 16:42 BST Jul 20
  • SUP 1: 0.6786/6682 Low Jul 18 / 14 and the bear trigger
  • SUP 2: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing
  • SUP 3: 0.6588 Low May 28 2020
  • SUP 4: 0.6538 Low May 26 2020

AUDUSD traded higher Tuesday and extended the bounce from 0.6682, the Jul 14 low. Tuesday’s gains have also resulted in a break of the 20-day EMA and this exposes resistance at the 50-day EMA, at 0.6964. Short-term gains are considered corrective and the primary bear trend remains intact. A reversal lower would refocus attention on the 0.6682 bear trigger where a break would confirm a resumption of the downtrend.

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  • RES 4: 0.7141 76.4% retracement of the Jun 3 - Jul 14 downleg
  • RES 3: 0.7069 High Jun 16
  • RES 2: 0.6964 50-day EMA
  • RES 1: 0.6912 38.2% retracement of the Jun 3 - Jul 14 downleg
  • PRICE: 0.6893 @ 16:42 BST Jul 20
  • SUP 1: 0.6786/6682 Low Jul 18 / 14 and the bear trigger
  • SUP 2: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing
  • SUP 3: 0.6588 Low May 28 2020
  • SUP 4: 0.6538 Low May 26 2020

AUDUSD traded higher Tuesday and extended the bounce from 0.6682, the Jul 14 low. Tuesday’s gains have also resulted in a break of the 20-day EMA and this exposes resistance at the 50-day EMA, at 0.6964. Short-term gains are considered corrective and the primary bear trend remains intact. A reversal lower would refocus attention on the 0.6682 bear trigger where a break would confirm a resumption of the downtrend.