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Trading Closer To This Week’s Lows

AUDUSD TECHS
  • RES 4: 0.6900 High Jun 16 and a bull trigger
  • RES 3: 0.6847 High Jul 20
  • RES 2: 0.6821 High Jul 27
  • RES 1: 0.6630/6697 High Aug 2 / 50-day EMA
  • PRICE: 0.6568 @ 15:57 BST Aug 7
  • SUP 1: 0.6514 Low Aug 3
  • SUP 2: 0.6485 Low Jun 1
  • SUP 3: 0.6458 Low May 31 and a bear trigger
  • SUP 4: 0.6403 76.4% retracement of the Oct 13 ‘22 - Feb 2 bull leg

AUDUSD bears remain in the driver’s seat and the pair is trading closer to its recent lows. Price remains below both the 20- and 50-day EMAs, reinforcing current conditions. Last week’s move lower resulted in a break of support at 0.6596, the Jun 29 low, as well as 0.6562, 76.4% of the Oct 13 ‘22 - Feb 2 bull leg. This opens 0.6458, the May 31 low and bear trigger. Initial firm resistance is seen at 0.6697, the 50-day EMA.

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

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