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Key Resistance Topped

AUDUSD TECHS
  • RES 4: 0.7556 High Oct 28 and a key resistance
  • RES 3: 0.7532 High Nov 2, 2021
  • RES 2: 0.7474 2.0% 10-dma envelope
  • RES 1: 0.7448 High Mar 22
  • PRICE: 0.7440 @ 17:07 GMT Mar 22
  • SUP 1: 0.7290/43 20-day EMA / 50-day EMA
  • SUP 2: 0.7165 Low Mar 15 and a key support
  • SUP 3: 0.7095 Low Feb 24
  • SUP 4: 0.7080 76.4% retracement of the Jan 28 - Mar 7 upleg

The near-term AUDUSD outlook strengthened further Tuesday, with the pair showing at new YTD and multi-month highs. The pair defined a key short-term support last week at 0.7165, the Mar 15 low. The strong reversal from this low signalled a potential resumption of the uptrend that started Jan 28 with moving averages also in a bull mode, highlighting an uptrend. Prices topped 0.7441, the Mar 7 high and bull trigger. This shifts sights to the Nov 2, 2021 high of 0.7532.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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