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Trading In A Range For Now

AUDUSD TECHS
  • RES 4: 0.6771 High Jan 3
  • RES 3: 0.6751 76.4% retracement of the Dec 28 - Apr 19 bear leg
  • RES 2: 0.6729 High Jan 12
  • RES 1: 0.6714 High Jun 16 and the bull trigger
  • PRICE: 0.6657 @ 17:17 BST Jun 24
  • SUP 1: 0.6576 Low Jun 10 and a key support
  • SUP 2: 0.6558 Low May 8
  • SUP 3: 0.6539 50.0% retracement of the Apr 19 - May 16 bull leg
  • SUP 4: 0.6497 61.8% retracement of the Apr 19 - May 16 bull leg

AUDUSD is unchanged and continues to trade within its range. The recent sideways move has defined key resistance at 0.6714, May 16 high and key support at 0.6576, Jun 10 low. Both levels represent key S/T directional triggers. Clearance of 0.6714, would open 0.6751, a Fibonacci retracement. A break through 0.6576 would expose 0.6558 initially, the May 8 low. Moving average studies are in a bull-mode set-up and highlight an uptrend.

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