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Consolidation Mode

AUDUSD TECHS
  • RES 4: 0.7617/19 High Jun 25 / 2.0% 10-dma envelope
  • RES 3: 0.7599 High Jul 6 2021
  • RES 2: 0.7556 High Oct 28 and a key resistance
  • RES 1: 0.7540/65 High Mar 28
  • PRICE: 0.7495 @ 16:33 GMT Apr 1
  • SUP 1: 0.7450 Low Mar 23
  • SUP 2: 0.7405/7376 20-day EMA / Low Mar 22
  • SUP 3: 0.7313 50-day EMA
  • SUP 4: 0.7283 Low Mar 17

AUDUSD is in consolidation mode and remains below its recent highs. From a trend perspective, the direction remains up. This follows the Mar 22 break of 0.7441, Mar 7 high, that confirmed an extension of the strong reversal from 0.7165, Mar 15 low. This also means the bull cycle that started Jan 28, remains intact. The break of 0.7441 signals scope for a climb towards 0.7556, the Oct 28 high. Initial firm support is seen at 0.7405.

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