April 24, 2024 06:37 GMT
Testing Resistance At The 50-Day EMA
AUDUSD TECHS
- RES 4: 0.6644 High Apr 9
- RES 3: 0.6617 50.0% retracement of the Dec 28 - Apr 19 bear leg
- RES 2: 0.6557 38.2% retracement of the Dec 28 - Apr 19 bear leg
- RES 1: 0.527/30 50-day EMA / intraday high
- PRICE: 0.6513 @ 07:34 BST Apr 24
- SUP 1: 0.6441/6363 Low Apr 23 / 19
- SUP 2: 0.6339 Low Nov 10 and a key support
- SUP 3: 0.6315 Low Oct 31 ‘23
- SUP 4: 0.6270 Low Oct 26 ‘23 and a key support
AUDUSD is trading higher this week and the pair has arrived at an important short-term pivot resistance. 0.6527 is the 50-day EMA and a clear break of this average would highlight a stronger reversal and signal scope for a cimb towards 0.6644, the Apr 9 high. A bearish trend theme remains intact and a reversal lower would refocus attention on 0.6363, the Apr 19 low and bear trigger. A break of this support would resume the downtrend.
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