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Resumes Its Uptrend

AUDUSD TECHS
  • RES 4: 0.7741 2.0% 10-dma envelope
  • RES 3: 0.7732 High Apr 20, 2018
  • RES 2: 0.7677 High Jun 6, 2018
  • RES 1: 0.7664 Intraday high
  • PRICE: 0.7653 @ 06:30 GMT Dec 30
  • SUP 1: 0.7526 20-day EMA
  • SUP 2: 0.7462 Low Dec 21 and a bear trigger
  • SUP 3: 0.7427 Low Dec 10
  • SUP 4: 0.7404 50-day EMA

AUDUSD was firmer Tuesday and has traded higher again today. The pair has breached recent resistance at 0.7640, Dec 17 high and the bull trigger. This confirms a resumption of the uptrend and opens 0.7677 next, Jun 6, 2018 high. The break higher also reinforces underlying bullish conditions and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode too. Key support is 0.7462, Dec 21 low.

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