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Outlook Remains Bearish

AUDUSD TECHS
  • RES 4: 0.7499/7503 50.0% of the May - Aug sell-off / High Jul 13
  • RES 3: 0.7478 High Sep 3 and the bull trigger
  • RES 2: 0.7410 High Sep 10
  • RES 1: 0.7325 20-day EMA
  • PRICE: 0.7267 @ 06:53 BST Sep 21
  • SUP 1: 0.7220 Low Sep 20
  • SUP 2: 0.7194 76.4% retracement of the Aug 20 - Sep 3 rally
  • SUP 3: 0.7106 Low Aug 20 and the bear trigger
  • SUP 4: 0.7053 38.2% retracement of the Mar '20 - Feb uptrend

AUDUSD remains bearish and yesterday extended the pullback from 0.7478, Sep 3 high. The 20-day EMA and a number of retracement levels were breached last week. The focus is on 0.7194, 76.4% of the Aug 20 - Sep 3 rally. A break of this level would expose the key support at 0.7106. On the upside, initial resistance is seen at 0.7325, the 20-day EMA ahead of 0.7410, the Sep 10 high.

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