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Fresh Cycle Low

AUDUSD TECHS
  • RES 4: 0.7266 High May 4/5 and key resistance
  • RES 3: 0.7245 50-day EMA
  • RES 2: 0.7135 Low May 6
  • RES 1: 0.7054 High May 11
  • PRICE: 0.6873 @ 17:34 BST May 12
  • SUP 1: 0.6833 Low Jun 30 2020
  • 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 maintains a bearish tone and has once again resumed its downtrend. The move lower marks an extension of the reversal last week from 0.7266, the May 4/5 high. Moving average studies are in a bear mode too, highlighting current sentiment. Support at 0.6968, the Jan 28 low and a bear trigger, has been breached. This opens 0.6833 next, the Jun 30 2020 low. Initial resistance is at Wednesday’s high of 0.7054.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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