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Key Resistance Remains Exposed

AUDUSD TECHS
  • RES 4: 0.6900 High Jun 16 ‘23
  • RES 3: 0.6871 High Dec 28 and a key resistance
  • RES 2: 0.6839 High Jan 2
  • RES 1: 0.6799 High Jul 11 and key resistance
  • PRICE: 0.6777 @ 19:28 BST Aug 26
  • SUP 1: 0.6697/6639 Low Aug 22 / 50-day EMA
  • SUP 2: 0.6571 Low Aug 15
  • SUP 3: 0.6508/6350 Low Aug 8/ 5 and the bear trigger
  • SUP 4: 0.6339 Low Nov 10’23

A bull cycle in AUDUSD remains intact and Friday’s gains reinforce the current bullish condition. The latest gains have cancelled a recent bearish theme. Price has cleared 0.6693, 76.4% of the Jul 11 - Aug 5 bear leg. The clear break of this price point strengthens a bullish theme and sights are on 0.6799, the Jul 11 high. Initial firm support to watch lies at 0.6697, the Aug 22 low.

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