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Through The 50-Day EMA

AUDUSD TECHS
  • RES 4: 0.7762 76.4% retracement of the Feb ‘21 - Jan ‘22 downleg
  • RES 3: 0.7716 High Jun 16 2021
  • RES 2: 0.7643/61 2.0% 10-dma envelope / High Apr 5
  • RES 1: 0.7519 High Apr 7
  • PRICE: 0.7364 @ 13:17 BST Apr 18
  • SUP 1: 0.7351 Low Apr 18
  • SUP 2: 0.7340 50-DMA
  • SUP 3: 0.7283 Low Mar 17
  • SUP 4: 0.7181 Low Mar 16

AUDUSD remains vulnerable near-term following the recent pullback from 0.7661, Apr 5 high. Note that price activity on Apr 5 confirmed a bearish candle - a shooting star - and the subsequent move lower reinforces this pattern and a bearish theme. The 20-day EMA at 0.7449, has been breached as well as the 50-day EMA at 0.7368 - a key support. On the upside, 0.7661 represents the trigger for a resumption of bullish activity.

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