January 18, 2023 20:30 GMT
Northbound
AUDUSD TECHS
- RES 4: 0.7200 Round number resistance
- RES 3: 0.7137 High Aug 11
- RES 2: 0.7063 High Jan 18
- RES 1: 0.7059 2.236 proj of the Oct 13 - 27 - Nov 3 price swing
- PRICE: 0.6984 @ 16:54 GMT Jan 18
- SUP 1: 0.6930/6860 Low Jan 17 / 9
- SUP 2: 0.6854 20-day EMA
- SUP 3: 0.6762 50-day EMA
- SUP 4: 0.6688 Low Jan 3 and key support
AUDUSD maintains a bullish theme and traded higher Wednesday before a moderation into the close. The pair has recently cleared 0.6893, the Dec 13 high and this confirmed a resumption of the uptrend that started Oct 13. The move higher maintains the bullish price sequence of higher highs and higher lows and note that moving average studies are in a bull mode position. The focus is on 0.7059 next, a Fibonacci projection. Key support lies at 0.6688, Jan 3 low.
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