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Bullish Outlook

AUDUSD TECHS

Trend Needle Still Points South

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Remains Vulnerable

AUDUSD TECHS
  • RES 4: 0.7786 Trendline resistance drawn off the Feb 25 high
  • RES 3: 0.7757 High Mar 22
  • RES 2: 0.7699 Low Mar 17
  • RES 1: 0.7636 High Mar 24
  • PRICE: 0.7620 @ 06:33 GMT Mar 26
  • SUP 1: 0.7564/63 Low Feb 2 / Mar 25 and a key support
  • SUP 2: 0.7517 Low Dec 22
  • SUP 3: 0.7462 Low Dec 21
  • SUP 4: 0.7418 23.6% retracement of the Mar 2020 - Feb rally

AUDUSD maintains a bearish tone. The pair traded lower Tuesday and Wednesday to maintain and has cleared support at 0.7621, Mar 9 low and a bear trigger. The break lower confirms a resumption of the bearish cycle that started at 0.8007, Feb 25 high and paves the way for weakness below 0.7564, the Feb 2 low. On the upside, key resistance has been established at 0.7849, Mar 18 high.

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