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Heading South

AUDUSD TECHS
  • RES 4: 0.7137 High Aug 11
  • RES 3: 0.7040 High Aug 16
  • RES 2: 0.7009 High Aug 26 and a key short-term resistance
  • RES 1: 0.6927 20-day EMA
  • PRICE: 0.6832 @ 08:13 BST Sep 1
  • SUP 1: 0.6789 76.4% retracement of the Jul 14 - Aug 11 upleg
  • SUP 2: 0.6719 Low Jul 15
  • SUP 3: 0.6682 14 and the bear trigger
  • SUP 4: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing

A bearish threat in AUDUSD remains present and the pair has traded lower again today. The break of Monday’s low strengthens bearish conditions and confirms a resumption of the bear leg that started Aug 11. Sights are on 0.6789, a Fibonacci retracement where a break would highlight potential for a move towards 0.6682, the Jul 14 low and a key support. On the upside, key short-term resistance has been defined at 0.7009, Aug 26 high.

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