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Softer With Attention On Key Support

AUDUSD TECHS
  • RES 4: 0.8007 High Feb 25 and the bull trigger
  • RES 3: 0.7916 76.4% retracement of the Feb 25 - Mar 9 low
  • RES 2: 0.7849/60 High Mar 18 / 61.8% of the Feb 25 - Mar 9 low
  • RES 1: 0.7774 High Mar 19
  • PRICE: 0.7685 @ 06:34 GMT Mar 23
  • SUP 1: 0.7669 Low Mar 10
  • SUP 2: 0.7621 Low Mar 9 and the bear trigger
  • SUP 3: 0.7583 Low Feb 5
  • SUP 4: 0.7564 Low Feb 2 and a key support

AUDUSD is weaker this morning. The pair found resistance last week at 0.7849, Mar 18 high This level marks an important short-term bull trigger where a break is required to resume the recent bullish cycle and suggest scope for an extension higher. This would open 0.7860, a Fibonacci retracement and beyond. Key support is at 0.7691, Mar 9 low, a break would instead resume the downleg that started on Mar 25.

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