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Corrective Pullback Extends

AUDUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 0.6771 High Jan 3
  • RES 3: 0.6751 76.4% retracement of the Dec 28 - Apr 19 bear leg
  • RES 2: 0.6729 High Jan 12
  • RES 1: 0.6714 High May 16 and the bull trigger
  • PRICE: 0.6626 @ 16:50 BST May 24
  • SUP 1: 0.6592 Low May 24
  • SUP 2: 0.6576 50-day EMA
  • SUP 3: 0.6465/6407 Low May 1 / Low Apr 22
  • SUP 4: 0.6363 Low Apr 19 and the bear trigger

AUDUSD traded lower this week. The latest pullback appears to be a correction and a bullish condition remains intact following recent gains. The pair has recently breached a key short-term hurdle at 0.6668, the Mar 8 high. The break strengthens a bullish theme and a resumption of gains would open 0.6751, a Fibonacci retracement. On the downside, support to watch lies at 0.6576, the 50-day EMA.

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  • RES 4: 0.6771 High Jan 3
  • RES 3: 0.6751 76.4% retracement of the Dec 28 - Apr 19 bear leg
  • RES 2: 0.6729 High Jan 12
  • RES 1: 0.6714 High May 16 and the bull trigger
  • PRICE: 0.6626 @ 16:50 BST May 24
  • SUP 1: 0.6592 Low May 24
  • SUP 2: 0.6576 50-day EMA
  • SUP 3: 0.6465/6407 Low May 1 / Low Apr 22
  • SUP 4: 0.6363 Low Apr 19 and the bear trigger

AUDUSD traded lower this week. The latest pullback appears to be a correction and a bullish condition remains intact following recent gains. The pair has recently breached a key short-term hurdle at 0.6668, the Mar 8 high. The break strengthens a bullish theme and a resumption of gains would open 0.6751, a Fibonacci retracement. On the downside, support to watch lies at 0.6576, the 50-day EMA.