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USDCAD TECHS

Needle Still Points North

AUDUSD TECHS

Bearish Correction Still In Play

AUSSIE TECHS
  • RES 4: 0.7356 High Dec 5, 2018
  • RES 3: 0.7295 High Jan 2019
  • RES 2: 0.7276/84 High Aug 19 / High Feb 2019
  • RES 1: 0.7216 High Aug 21
  • PRICE: 0.7153 @ 17:25 BST Aug 21
  • SUP 1: 0.7136/09 Low Aug 20 / Low Aug 12 and the bear trigger
  • SUP 2: 0.7076 Low Aug 3 and a key support
  • SUP 3: 0.7064 Low Jul 24
  • SUP 4: 07028 50-dma
AUDUSD experienced selling pressure Wednesday and again Friday. The move lower on Aug 19 is a potentially important S/T bearish threat and signals the possible start of a correction. The daily pattern on this day was a bearish engulfing candle and is reinforced by a momentum set-up known as bearish divergence between price and momentum. Key resistance and the bull trigger is 0.7276. Watch support at 0.7109, Aug 12 low and bear trigger.