March 25, 2022 20:30 GMT
Fresh YTD High
AUDUSD TECHS
- RES 4: 0.7599 High Jul 6 2021
- RES 3: 0.7556 High Oct 28 and a key resistance
- RES 2: 0.7537 High Mar 25
- RES 1: 0.7533 2.0% 10-dma envelope
- PRICE: 0.7506 @ 16:33 GMT Mar 25
- SUP 1: 0.7450/7376 Low Mar 23 / Low Mar 22
- SUP 2: 0.7343 20-day EMA
- SUP 3: 0.7271 50-day EMA
- SUP 4: 0.7165 Low Mar 15 and a key support
AUDUSD strengthened further early Friday and continues to deliver new YTD and multi-month highs. This week’s important technical break has been the move above 0.7441, the Mar 7 high, marking an extension of the strong reversal from 0.7165, Mar 15 low. This reinforces the current bull cycle that started Jan 28. The break of 0.7441 signals scope for a climb towards 0.7556, the Oct 28 high. Initial firm support is seen at 0.7376.
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