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Pullback Nears Support

AUDUSD TECHS
  • 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: 0.6819 @ 16:23 GMT Feb 22
  • SUP 1: 0.6809 Low Feb 22
  • 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 Wednesday, putting prices further through first support at 0.6856 and exposing 0.6781 in the process. 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.

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

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