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Pulls Away From Its Recent Highs

AUDUSD TECHS
  • RES 4: 0.7371 High Nov 15, 2021
  • RES 3: 0.7322 2.0% 10-dma envelope
  • RES 2: 0.7314 High Jan 13 and a key resistance
  • RES 1: 0.7284 High Feb 23
  • PRICE: 0.7178 @ 07:24 GMT Feb 24
  • SUP 1: 0.7164 Low Feb 21
  • SUP 2: 0.7086/7052 Low Feb 14 / Low Feb 4
  • SUP 3: 0.6968/6963 Low Jan 28 / Low Jul 16, 2020
  • SUP 4: 0.6921 Low Jul 14, 2020

AUDUSD failed to hold onto yesterday’s high and is trading lower this morning. This leaves the key resistance at 0.7314 intact for now, the Jan 13 high. A deeper pullback would signal potential for a test of support at 0.7086, Feb 14 low that also represents a key short-term support handle. On the upside, clearance of the 0.7284 (Feb 23) to 0.7314 zone is required to strengthen the case for bulls.

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