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Support Gives Way

AUDUSD TECHS
  • RES 4: 0.6630 High Aug 2
  • RES 3: 0.6616 High Aug 16
  • RES 2: 0.6522 High Aug 30 and Sep 1, and the key resistance
  • RES 1: 0.6427/6489 20- and 50-day EMA values
  • PRICE: 0.6410 @ 16:21 BST Sep 28
  • SUP 1: 0.6331 Low Sep 27
  • SUP 2: 0.6287 2.00 proj of the Jun 16 - Jun 29 - Jul 13 price swing
  • SUP 3: 0.6272 Low Nov 3 2022 and a key support
  • SUP 4: 0.6215 2.236 proj of the Jun 16 - Jun 29 - Jul 13 price swing

The AUDUSD trend condition is unchanged and remains bearish. The pair traded lower Wednesday and has confirmed a clear break of former support at 0.6365, the Aug 17 low. This marks a resumption of the downtrend that started on Jul 13 and the move lower opens 0.6287 next, a Fibonacci projection point. On the upside, key short-term trend resistance is unchanged at 0.6522, the Aug 30 and Sep 1 high.

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