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Conditions Remain Bullish

AUDUSD TECHS
  • RES 4: 0.7617 High Jun 25
  • RES 3: 0.7597/99 2.0% 10-dma envelope / High Jul 6 2021
  • RES 2: 0.7556 High Oct 28 and a key resistance
  • RES 1: 0.7540/65 High Mar 28
  • PRICE: 0.7514 @ 16:35 GMT Mar 30
  • SUP 1: 0.7450 Low Mar 23
  • SUP 2: 0.7385/76 20-day EMA / Low Mar 22
  • SUP 3: 0.7298 50-day EMA
  • SUP 4: 0.7165 Low Mar 15 and a key support

AUDUSD remains below its recent YTD and multi-month highs. From a trend perspective, conditions are bullish. This follows last week’s move above 0.7441, Mar 7 high, marking an extension of the strong reversal from 0.7165, Mar 15 low. This also reinforces the current bull cycle that began Jan 28. The break of 0.7441 signals scope for a climb towards 0.7556, the Oct 28 high. Initial firm support is seen at 0.7376.

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