Opens Gap With Recent Highs

• RES 4: 0.7935 High Feb 19, 2018
• RES 3: 0.7917 High Mar 14, 2018 and a key resistance
• RES 2: 0.7885 High Mar 15. 2018
• RES 1: 0.7820 High Jan 6 and the bull trigger
• PRICE: 0.7710 @ 16:25 GMT Jan 15
• SUP 1: 0.7677/66 20-day EMA / Low Jan 11
• SUP 2: 0.7643 Jan 4 low
• SUP 3: 0.7603 Low Dec 30
• SUP 4: 0.7557 Low Dec 28

AUDUSD is still trading below the recent high of 0.7820, Jan 6 high. Although the uptrend remains intact, there is a risk the pair will retrace lower short-term in a move that would be considered a correction and this would allow an overbought condition to unwind. The key support to watch is 0.7666, Jan 11 low. A break would expose 0.7600 and below. On the upside, clearance of 0.7820 resumes the uptrend.