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September Low Probed

AUSSIE TECHS
  • RES 4: 0.7243 High Oct 10 and a key resistance
  • RES 3: 0.7218 High Oct 13
  • RES 2: 0.7144/58 Trendline drawn off the Sep 1 high / High Oct 23
  • RES 1: 0.7076 High Oct 29
  • PRICE: 0.7022 @ 06:23 GMT Oct 30
  • SUP 1: 0.7002 Low Oct 29
  • SUP 2: 0.6965 23.6% retracement of the Mar - Sep Rally
  • SUP 3: 0.6948 2.0% 10-dma envelope
  • SUP 4: 0.6921 Low Jul 14

AUDUSD outlook is bearish. The pair has pulled further away from trendline resistance drawn off the Sep 1 high. The trendline resistance rests at 0.7144 and represents a key hurdle for bulls. This line was tested Wednesday and capped gains. While the trendline holds, a bearish theme dominates which was strengthened Thursday following the print below 0.7006, Sep 25 low. This has opened 0.6965 next. A trendline breach reverses the trend.

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