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Eyeing Key Resistance

AUDUSD TECHS
  • RES 4: 0.7534 High Jul 7
  • RES 3: 0.7503 High Jul 13
  • RES 2: 0.7478 High Sep 3 and the bull trigger
  • RES 1: 0.7440 High Oct 15
  • PRICE: 0.7404 @ 06:46 BST Oct 18
  • SUP 1: 0.7336 50-day EMA
  • SUP 2: 0.7288 Low Oct 8
  • SUP 3: 0.7226/7170 Low Oct 6 / Low Sep 29
  • SUP 4: 0.7106 Low Aug 20 key support

AUDUSD maintains a firmer short-term tone with the pair continuing to trade above the 20- and 50-day EMAs. The recent break above these averages suggests scope for further gains. The focus is on 0.7478, Sep 3 high and a key short-term resistance. A breach of this hurdle would strengthen a bullish case and remove recent bearish considerations. Initial firm support is seen at 0.7336, the 50-day EMA

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