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Testing The 20-Day EMA

AUDUSD TECHS
  • RES 4: 0.7591 61.8% of the May - Aug sell-off / High Jul 13
  • RES 3: 0.7534 High Jul 7
  • RES 2: 0.7499/7503 50.0% of the May - Aug sell-off / High Jul 13
  • RES 1: 0.7478 High Sep 3 and the bull trigger
  • PRICE: 0.7373 @ 18:40 BST Sep 9
  • SUP 1: 0.7344 20-day EMA
  • SUP 2: 0.7285 Low Aug 30
  • SUP 3: 0.7222/7106 Low Aug 27 / Low Aug 20 and the bear trigger
  • SUP 4: 0.7053 38.2% retracement of the Mar '20 - Feb uptrend

AUDUSD remains off recent highs and held the bulk traded lower again yesterday. The pair has cleared the 50-day EMA and is testing support at the 20-day EMA. The near-term outlook is bullish though and dips are considered corrective. The focus is on 0.7503, the Jul 13 high that also marks a key near-term hurdle for bulls. Key support to watch is 0.7222, Aug 27 low, a break would signal a resumption of bearish activity. Initial support is at 0.7344, the 20-day EMA.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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