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Moving Average Studies Highlight An Uptrend

AUDUSD TECHS
  • RES 4: 0.6771 High Jan 3
  • RES 3: 0.6751 76.4% retracement of the Dec 28 - Apr 19 bear leg
  • RES 2: 0.6729 High Jan 12
  • RES 1: 0.6714 High Jun 16 and the bull trigger
  • PRICE: 0.6669 @ 07:00 BST Jun 20
  • SUP 1: 0.6576 Low Jun 10 and a key support
  • SUP 2: 0.6558 Low May 8
  • SUP 3: 0.6539 50.0% retracement of the Apr 19 - May 16 bull leg
  • SUP 4: 0.6497 61.8% retracement of the Apr 19 - May 16 bull leg

AUDUSD has traded higher this week but remains within its range. The recent sideways move has defined key resistance at 0.6714, the May 16 high and key support at 0.6576, the Jun 10 low. Both levels represent key S/T directional triggers. Clearance of 0.6714, would open 0.6751, a Fibonacci retracement. A break below 0.6576 would expose 0.6558 initially, the May 8 low. MA studies are in a bull-mode set-up and highlight an uptrend.

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