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Is back to session high

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BLOCK, 2Y Sale

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Firmer Short-Term Tone

AUDUSD TECHS
  • RES 4: 0.7266 High May 4/5 and a bull trigger
  • RES 3: 0.7187 50-day EMA
  • RES 2: 0.7135 Low May 6
  • RES 1: 0.7074 High May 20
  • PRICE: 0.7039 @ 21:02 BST May 20
  • SUP 1: 0.6950/29 Low May 18 / Low May 12 and the bear trigger
  • SUP 2: 0.6805 Low Jun 22 2020
  • SUP 3: 0.6784 0.764 proj of the Apr 5 - May 2 - 4 price swing
  • SUP 4: 0.6759 50.0% retracement of the Mar ‘20 - Feb ‘21 upleg

AUDUSD traded higher last week and in the process breached 0.7054, the May 11 high. An extension higher would strengthen the current bull cycle and signal potential for a climb towards the 50-day EMA at 0.7187. Gains are still considered corrective and the primary direction remains down. The bear trigger is unchanged at 0.6829, the May 12 low. A break would resume the downtrend.

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  • RES 4: 0.7266 High May 4/5 and a bull trigger
  • RES 3: 0.7187 50-day EMA
  • RES 2: 0.7135 Low May 6
  • RES 1: 0.7074 High May 20
  • PRICE: 0.7039 @ 21:02 BST May 20
  • SUP 1: 0.6950/29 Low May 18 / Low May 12 and the bear trigger
  • SUP 2: 0.6805 Low Jun 22 2020
  • SUP 3: 0.6784 0.764 proj of the Apr 5 - May 2 - 4 price swing
  • SUP 4: 0.6759 50.0% retracement of the Mar ‘20 - Feb ‘21 upleg

AUDUSD traded higher last week and in the process breached 0.7054, the May 11 high. An extension higher would strengthen the current bull cycle and signal potential for a climb towards the 50-day EMA at 0.7187. Gains are still considered corrective and the primary direction remains down. The bear trigger is unchanged at 0.6829, the May 12 low. A break would resume the downtrend.