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Eyeing The 200-Day MA

AUDUSD TECHS
  • RES 4: 0.7716 High Jun 16
  • RES 3: 0.7630 1.236 proj of the Aug 20 - Sep 3 - Sep 29 price swing
  • RES 2: 0.7599 High Jul 6
  • RES 1: 0.7557/59 50.0% of the Feb - Aug sell-off / 200-Day MA
  • PRICE: 0.7542 @ 06:49 BST Oct 29
  • SUP 1: 0.7454 Low Oct 22
  • SUP 2: 0.7426/7383 20-day EMA / 50-day EMA
  • SUP 3: 0.7288 Low Oct 8
  • SUP 4: 0.7226/7170 Low Oct 6 / Low Sep 29

AUDUSD appreciated yesterday and breached the recent Oct 21 high of 0.7546. This confirms a resumption of the uptrend, hitting new multi-month highs. The climb has narrowed the gap with the 200-dma at 0.7559. A break of the average would strengthen bullish conditions and extend the positive price sequence of higher highs and higher lows. Sights are set on 0.7599 next, the Jul 6 high. Firm support is seen at 0.7383, the 50-day EMA.

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