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Holding Gains

AUDUSD TECHS
  • RES 4: 0.7314 High Jan 13 and a key resistance
  • RES 3: 0.7277 High Jan 20
  • RES 2: 0.7273 2.0% 10-dma envelope
  • RES 1: 0.7249 High Feb 09
  • PRICE: 0.7214 @ 09:41 GMT Feb 18
  • SUP 1: 0.7086/7052 Low Feb 14 / Low Feb 4
  • SUP 2: 0.6968/6963 Low Jan 28 / Low Jul 16, 2020
  • SUP 3: 0.6921 Low Jul 14, 2020
  • SUP 4: 0.6884 0.764 proj of the Oct ‘21 - Dec ‘21 - Jan price swing

AUDUSD continues to hold recovery gains, putting the pair at odds with the likes of USDJPY, which have slipped lower. This works in favour of AUDUSD at this stage and negates the bearish signals evident in the bearish candle pattern posted late last week. As such, markets re-target the early February highs of 0.7249 to sustain any rally, while a return back below 0.7086 would prove bearish.

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