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AUDUSD TECHS: Key Resistance Levels Remains Intact For Now

AUDUSD TECHS
USForeign Exchange Technical AnalysisAPACAustraliaBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 0.6429 High Dec 12 
  • RES 3: 0.6384 High Dec 13               
  • RES 2: 0.6331 High Jan 24 and a key resistance   
  • RES 1: 0.6300/09 50-day EMA / High Feb 12 
  • PRICE: 0.6299 @ 16:30 GMT Feb 13 
  • SUP 1: 0.6171/6088 Low Feb 4 / 3
  • SUP 3: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing
  • SUP 3: 0.6000 Round number support
  • SUP 4: 0.5931 1.764 proj of the Sep 30 - Nov 6 - 7 price swing

AUDUSD traded slightly positive into the close but largely trades within the recent range. Despite recent gains, the trend structure remains bearish. Key resistance is at 0.6300 (pierced), the 50-day EMA, and 0.6331, the Jan 24 high. A clear break of both levels is required to highlight a stronger reversal. On the downside, a resumption of weakness would refocus attention on 0.6088, the Feb 3 low, and the bear trigger.     

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  • RES 4: 0.6429 High Dec 12 
  • RES 3: 0.6384 High Dec 13               
  • RES 2: 0.6331 High Jan 24 and a key resistance   
  • RES 1: 0.6300/09 50-day EMA / High Feb 12 
  • PRICE: 0.6299 @ 16:30 GMT Feb 13 
  • SUP 1: 0.6171/6088 Low Feb 4 / 3
  • SUP 3: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing
  • SUP 3: 0.6000 Round number support
  • SUP 4: 0.5931 1.764 proj of the Sep 30 - Nov 6 - 7 price swing

AUDUSD traded slightly positive into the close but largely trades within the recent range. Despite recent gains, the trend structure remains bearish. Key resistance is at 0.6300 (pierced), the 50-day EMA, and 0.6331, the Jan 24 high. A clear break of both levels is required to highlight a stronger reversal. On the downside, a resumption of weakness would refocus attention on 0.6088, the Feb 3 low, and the bear trigger.