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Heading South

AUDUSD TECHS
  • RES 4: 0.7493 Apr 12 high and key intraday resistance
  • RES 3: 0.7458 High Apr 20/21
  • RES 2: 0.7320 50-day EMA
  • RES 1: 0.7180/261 High Apr 29 / High Apr 25
  • PRICE: 0.7044 @ 06:58 BST May 2
  • SUP 1: 0.7033 Intraday low
  • SUP 2: 0.6985 Low Jan 31
  • SUP 3: 0.6968 Low Jan 28 and a bear trigger
  • SUP 4: 0.6921 Low Jul 14 2020

AUDUSD remains bearish and the pair continues to head south. Price has recently cleared support at 0.7165, Mar 15 low and a former key short-term bear trigger. The break reinforces bearish conditions and last Thursday’s move lower resulted in a breach of 0.7095, the Feb 24 low. This opens 0.6968 next, the Jan 28 low. Resistance is seen at 0.7261, Apr 5 high. Firmer resistance however is set at 0.7331, the 50-day EMA.

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