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Heading North

  • RES 4: 0.7245 2.00 proj of the Nov 21 - Dec 13 - Dec 20 price swing
  • RES 3: 0.7202 High Jun 9
  • RES 2: 0.7172 1.764 proj of the Nov 21 - Dec 13 - Dec 20 price swing
  • RES 1: 0.7142Intraday high
  • PRICE: 0.7119 @ 14:44 GMT Jan 26
  • SUP 1: 0.6994/6924 Low Nov 24 / 20-day EMA
  • SUP 2: 0.6872 Low Jan 19 and a key support
  • SUP 3: 0.6814 50-day EMA
  • SUP 4: 0.6688 Low Jan 3 and key support

AUDUSD remains firm and continues to climb. Resistance at 0.7063, the Jan 18 high, has been cleared this week. The break confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. 0.7137, the Aug 11 high, has been cleared and this opens 0.7172 next, a Fibonacci projection. On the downside, short-term support is seen at the 20-day EMA - it intersects at 0.6924.

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