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Needle Still Points South

AUDUSD TECHS
  • RES 4: 0.7493 Apr 12 high and key intraday resistance
  • RES 3: 0.7458 High Apr 20/21
  • RES 2: 0.7331 50-day EMA
  • RES 1: 0.7261 High Apr 25
  • PRICE: 0.7150 @ 06:42 BST Apr 29
  • SUP 1: 0.7055 Low Apr 28
  • SUP 2: 0.6985 Low Jan 31
  • SUP 3: 0.6968 Low Jan 28 and a bear trigger
  • SUP 4: 0.6921 Low Jul 14 2020

AUDUSD remains bearish and traded lower again Thursday. The pair recently cleared support at 0.7165, Mar 15 low and a key short-term bear trigger. The break reinforces current bearish conditions and Thursday’s move lower resulted in a breach of 0.7095, the Feb 24 low. This opens 0.7052 next, the Feb 4 low. Initial resistance is seen at Monday’s intraday high of 0.7261. Firmer resistance however is set at 0.7331, the 50-day EMA.

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