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Resumes Its Uptrend

  • RES 4: 0.7202 High Jun 9
  • RES 3: 0.7175 1.764 proj of the NOv 21 - Dec 13 - Dec 20 price swing
  • RES 2: 0.7137 High Aug 11 and key resistance
  • RES 1: 0.7123 High Jan 25
  • PRICE: 0.7078 @ 16:22 GMT Jan 25
  • SUP 1: 0.6994/6906 Low Nov 23 / 20-day EMA
  • SUP 2: 0.6872 Low Jan 19 and a key support
  • SUP 3: 0.6802 50-day EMA
  • SUP 4: 0.6688 Low Jan 3 and key support

AUDUSD traded higher Wednesday and in the process cleared resistance at 0.7063, the Jan 18 high. The breach confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Attention is on the next key resistance at 0.7137, the Aug 11 high where a break would strengthen underlying bullish conditions. On the downside, short-term support is seen at the 20-day EMA - it intersects at 0.6906.

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