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Resumes Gains

AUDUSD TECHS
  • RES 4: 0.7917 High Mar 14, 2018 and a key resistance
  • RES 3: 0.7885 High Mar 15. 2018
  • RES 2: 0.7813 High Apr 19, 2018
  • RES 1: 0.7800 Round number resistance
  • PRICE: 0.7776 @ 19:48 GMT Jan 5
  • SUP 1: 0.7643 Low Jan 4
  • SUP 2: 0.7603 Low Dec 30
  • SUP 3: 0.7578/57 20-day EMA / Low Dec 28
  • SUP 4: 0.7517 Low Dec 22

AUDUSD traded to fresh highs once again Tuesday. The pair last week breached resistance at 0.7640, Dec 17 high and a bull trigger. This confirmed a resumption of the uptrend. The break higher this week also reinforces underlying bullish conditions by maintaining the bullish price sequence of higher highs and higher lows. The focus is on 0.7813 next, Apr 19, 2018 high. MA studies are in a bull mode too. Support is at 0.7643, Jan 1 low.

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