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Impulsive Rally Extends

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Price Is Below The 50-Day EMA

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Fresh Trend Low

AUDUSD TECHS
  • RES 4: 0.7003 High Jun 16
  • RES 3: 0.6977 50-day EMA
  • RES 2: 0.6874 High Jul 8
  • RES 1: 0.6858 20-day EMA
  • PRICE: 0.6733 @ 07:18 BST Jul 15
  • SUP 1: 0.6682 Low Jul 14
  • SUP 2: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing
  • SUP 3: 0.6588 Low May 28 2020
  • SUP 4: 0.6538 Low May 26 2020

AUDUSD traded to a fresh trend low Thursday. The pair remains bearish and this week’s move lower reinforces bearish conditions. Support at 0.6762, the Jul 5 / 6 low and 0.6759, 50.0% of the Mar ‘20 - Feb ‘21 bull cycle, have been breached. The break sets the scene for a move towards 0.6647 next, a Fibonacci projection. On the upside, initial firm resistance is seen at 0.6858, the 20-day EMA.

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  • RES 4: 0.7003 High Jun 16
  • RES 3: 0.6977 50-day EMA
  • RES 2: 0.6874 High Jul 8
  • RES 1: 0.6858 20-day EMA
  • PRICE: 0.6733 @ 07:18 BST Jul 15
  • SUP 1: 0.6682 Low Jul 14
  • SUP 2: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing
  • SUP 3: 0.6588 Low May 28 2020
  • SUP 4: 0.6538 Low May 26 2020

AUDUSD traded to a fresh trend low Thursday. The pair remains bearish and this week’s move lower reinforces bearish conditions. Support at 0.6762, the Jul 5 / 6 low and 0.6759, 50.0% of the Mar ‘20 - Feb ‘21 bull cycle, have been breached. The break sets the scene for a move towards 0.6647 next, a Fibonacci projection. On the upside, initial firm resistance is seen at 0.6858, the 20-day EMA.