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Resistance Stays Intact

AUDUSD TECHS
  • RES 4: 0.6630 High Aug 2
  • RES 3: 0.6616 High Aug 16
  • RES 2: 0.6522 High Aug 30 and Sep 1, and the key resistance
  • RES 1: 0.6501 High Sep 29
  • PRICE: 0.6400 @ 07:03 BST Oct 2
  • SUP 1: 0.6331 Low Sep 27 and the bear trigger
  • SUP 2: 0.6287 2.00 proj of the Jun 16 - Jun 29 - Jul 13 price swing
  • SUP 3: 0.6272 Low Nov 3 2022 and a key support
  • SUP 4: 0.6215 2.236 proj of the Jun 16 - Jun 29 - Jul 13 price swing

AUDUSD remains inside a wide range. The pair has pulled back from Friday’s high and is trading lower today. A continuation would expose 0.6331, the Sep 27 low and bear trigger. A breach of this level would confirm a resumption of the downtrend and open 0.6287 next, a Fibonacci projection. On the upside, key short-term trend resistance to watch is 0.6522, the Aug 30 and Sep 1 high. Clearance of this level would instead be bullish.

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