AUDUSD TECHS: Pullback Nears Support

Feb-22 08:51
  • RES 4: 0.7245 2.00 proj of the Nov 21 - Dec 13 - Dec 20 price swing
  • RES 3: 0.7202 High Jun 9
  • RES 2: 0.7172 1.764 proj of the Nov 21 - Dec 13 - Dec 20 price swing
  • RES 1: 0.7082/0.7158 High Feb 3 / 2 and the bull trigger
  • PRICE: 0.6822 @ 08:30 GMT Feb 22
  • SUP 1: 0.6812 Low Feb 16
  • SUP 2: 0.6781 38.2% retracement of the Oct 13 - Feb 2 uptrend
  • SUP 3: 0.6755 Trendline support drawn from the Oct 13 low
  • SUP 4: 0.6688 Low Jan 3

AUDUSD printed a lower low early Friday, putting prices through first support at 0.6856 to expose 0.6781. The broader uptrend remains intact for now, and the recent move lower highlights a correction that is allowing a recent overbought trend condition to unwind. Key resistance and the bull trigger have been defined at 0.7158, the Feb 2 high. A break would resume the uptrend.

Historical bullets

US EURODLR OPTIONS: Mid SFR put fly buyer

Jan-23 08:40

0QK3 96.00/95.50/95.00p fly, bought for 4.5 in 5k

USD: USDSEK at lowest level since mid December

Jan-23 08:20
  • The SEK is the best performer against the USD, up 0.62%.
  • The SEK is up across all the majors, and leads against the Yen, while USDSEK continues to trade at its lowest level since mid December.
  • Some market participants will look at 10.20 for support, but better is seen at 10.1514, the December low, and lowest print since mid August.

EURIBOR OPTIONS: Call spread seller

Jan-23 08:08

ERH3 96.87/97.37cs, sold at 16.25 in 2.5k