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Hits Bull Trigger

  • RES 4: 0.7988 High Mar 14, 2018 and a key resistance
  • RES 3: 0.7960 3.0% Upper Bollinger Band
  • RES 2: 0.7936 2.0% 10-dma envelope
  • RES 1: 0.7919 High Feb 22
  • PRICE: 0.7908 @ 16:27 GMT Feb 22
  • SUP 1: 0.7718 20-day EMA
  • SUP 2: 0.7651 Low Feb 8
  • SUP 3: 0.7583/64 Low Feb 5 / Low Feb 2 and the bear trigger
  • SUP 4: 0.7557 Low Dec 28

AUDUSD maintains a bullish posture and once again traded well on Monday. Price action on Feb 5 highlighted a reversal signal following the inability to clear the 50-day EMA. The pair has breached resistance at 0.7820, Jan 6 high as well as 0.7915, hitting the bull trigger in the process. This opens vol band resistance at 0.7936. On the downside, a break of 0.7564, Feb 2 low is required to highlight a broader reversal. Initial support lies at 0.7718, the 20-day EMA.

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