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Still Climbing

AUDUSD TECHS
  • RES 4: 0.7599 High Jul 6, 2021
  • RES 3: 0.7556 High Oct 28, 2021 and a key resistance
  • RES 2: 0.7532 High Nov 2, 2021
  • RES 1: 0.7441 Intraday high
  • PRICE: 0.7413 @ 08:12 GMT Mar 7
  • SUP 1: 0.7314 High Jan 13 and a recent breakout level
  • SUP 2: 0.7227 20-day EMA
  • SUP 3: 0.7204 50-day EMA
  • SUP 4: 0.7141 Low Feb 25

AUDUSD continues to climb as the pair extends the rebound from 0.6968, the Jan 28 low. The pair last week cleared resistance at 0.7314, Jan 13 high, reinforcing bullish conditions and this signals scope for an extension of the bull cycle. Moving average studies appear to be turning bullish. A confirmed reversal to bull-mode in these indicators, would highlight a positive M/T outlook. The focus is 0.7471, the Nov 4 high. Initial support is seen at 0.7314.

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