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Pierces 50-Day EMA

AUDUSD TECHS
  • RES 4: 0.7141 76.4% retracement of the Jun 3 - Jul 14 downleg
  • RES 3: 0.7069 High Jun 16
  • RES 2: 0.6977 High Jul 22
  • RES 1: 0.6957 50-day EMA
  • PRICE: 0.6955 @ 16:19 BST Jul 22
  • SUP 1: 0.6786/6682 Low Jul 18 / 14 and the bear trigger
  • SUP 2: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing
  • SUP 3: 0.6588 Low May 28 2020
  • SUP 4: 0.6538 Low May 26 2020

AUDUSD traded well into the Friday close, piercing the 50-day EMA on an intraday basis. This improves the near-term outlook and opens next resistance at the Jun 16 high crossing at 0.7069. A solid break and close above here would cement the next upleg, which targets 0.7141, the 76.4% retracement of the Jun 3 - Jul 14 downleg. Any reversal lower would refocus attention on the 0.6682 bear trigger where a break would confirm a resumption of the downtrend.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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