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Has Traded Through The 50-Day EMA

AUDUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 0.6799 High Jul 11 and key resistance
  • RES 3: 0.6744 High Jul 18
  • RES 2: 0.6693 76.4% retracement of the Jul 11 - Aug 5 bear leg
  • RES 1: 0.6643 Intraday high
  • PRICE: 0.6636 @ 08:03 BST Aug 14
  • SUP 1: 0.6508/6350 Low Aug 8/ 5 and the bear trigger
  • SUP 2: 0.6339 Low Nov 10’23
  • SUP 3: 0.6315 Low Oct 31 ‘23
  • SUP 4: 0.6270 Low Oct 26 ‘23 and a key support

A bearish theme is AUDUSD remains intact. However, from a short-term perspective, a corrective cycle is in play and the pair continues to trade closer to its recent highs. Price has traded through the 50-day EMA, at 0.6614. A clear break of this average would undermine a bearish theme and signal scope for stronger gains, towards 0.6693, a Fibonacci retracement. For bears, a reversal would refocus attention on 0.6530, the Aug 5 low.

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  • RES 4: 0.6799 High Jul 11 and key resistance
  • RES 3: 0.6744 High Jul 18
  • RES 2: 0.6693 76.4% retracement of the Jul 11 - Aug 5 bear leg
  • RES 1: 0.6643 Intraday high
  • PRICE: 0.6636 @ 08:03 BST Aug 14
  • SUP 1: 0.6508/6350 Low Aug 8/ 5 and the bear trigger
  • SUP 2: 0.6339 Low Nov 10’23
  • SUP 3: 0.6315 Low Oct 31 ‘23
  • SUP 4: 0.6270 Low Oct 26 ‘23 and a key support

A bearish theme is AUDUSD remains intact. However, from a short-term perspective, a corrective cycle is in play and the pair continues to trade closer to its recent highs. Price has traded through the 50-day EMA, at 0.6614. A clear break of this average would undermine a bearish theme and signal scope for stronger gains, towards 0.6693, a Fibonacci retracement. For bears, a reversal would refocus attention on 0.6530, the Aug 5 low.