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Through Key Resistance

  • RES 4: 0.7432 High Nov 9
  • RES 3: 0.7400 2.0% 10-dma envelope
  • RES 2: 0.7393 High Nov 10
  • RES 1: 0.7375 High Mar 4
  • PRICE: 0.7373 @ 17:35 GMT Mar 4
  • SUP 1: 0.7239/7197 Low Mar 1 / 50-day EMA
  • SUP 2: 0.7095 Low Feb 24 and a key short-term support
  • SUP 3: 0.7086/7052 Low Feb 14 / Low Feb 4
  • SUP 4: 0.6968/6963 Low Jan 28 / Low Jul 16, 2020

AUDUSD continues to climb as the pair extends the rebound from 0.6968, the Jan 28 low. The pair has cleared resistance at 0.7314, Jan 13 high, reinforcing bullish conditions and signals scope for an extension higher Moving average studies are turning bullish. A confirmed reversal to bull-mode in these indicators, would highlight a positive medium-term outlook. Key support has been defined at 0.7095, Feb 24 low.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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