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Key Resistance Tumbles

  • RES 4: 0.7356 High Dec 5, 2018
  • RES 3: 0.7295 High Jan 2019
  • RES 2: 0.7284 High Feb 2019
  • RES 1: 0.7265 High Aug 13
  • PRICE: 0.7230 @ 17:00 BST Aug 18
  • SUP 1: 0.7109 Low Aug 12
  • SUP 2: 0.7076 Low Aug 3 and the bear trigger
  • SUP 3: 0.7064/15 Low Jul 24 / 50-dma
  • SUP 4: 0.7010 Low Jul 21

AUDUSD went from firm to firmer Tuesday, topping key resistance on the way to a new cycle high at 0.7265. This expands the recent range higher, and firms the underlying bullish trend to open 0.7295, the Jan 2019 high. Weakness through 0.7076 would instead highlight a near-term reversal.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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