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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.

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

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