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Trades Through Key Support

AUDUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 0.6723 High Aug 1
  • RES 3: 0.6652 50-day EMA
  • RES 2:0.6593 20-day EMA
  • RES 1: 0.6522 High Aug 15
  • PRICE: 0.6433 @ 17:15 BST Aug 16
  • SUP 1: 0.6428 Intraday low
  • SUP 2: 0.6403 76.4% retracement of the Oct 13 ‘22 - Feb 2 bull leg
  • SUP 3: 0.6387 Low Nov 10 2022
  • SUP 4: 0.6285 Low Nov 4 2022

Short-term AUDUSD trend conditions remain bearish and Wednesday’s move lower reinforces the current bearish theme. The pair has breached support at 0.6458, the May 31 low and bear trigger. This reinforces a downtrend and paves the way for weakness towards 0.6403, a Fibonacci retracement point. On the upside, resistance to watch is at 0.6522, Tuesday’s low. A firmer resistance is at the 20-day EMA - at 0.6593.

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  • RES 4: 0.6723 High Aug 1
  • RES 3: 0.6652 50-day EMA
  • RES 2:0.6593 20-day EMA
  • RES 1: 0.6522 High Aug 15
  • PRICE: 0.6433 @ 17:15 BST Aug 16
  • SUP 1: 0.6428 Intraday low
  • SUP 2: 0.6403 76.4% retracement of the Oct 13 ‘22 - Feb 2 bull leg
  • SUP 3: 0.6387 Low Nov 10 2022
  • SUP 4: 0.6285 Low Nov 4 2022

Short-term AUDUSD trend conditions remain bearish and Wednesday’s move lower reinforces the current bearish theme. The pair has breached support at 0.6458, the May 31 low and bear trigger. This reinforces a downtrend and paves the way for weakness towards 0.6403, a Fibonacci retracement point. On the upside, resistance to watch is at 0.6522, Tuesday’s low. A firmer resistance is at the 20-day EMA - at 0.6593.