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Trend Direction Remains Down

AUDUSD TECHS
  • RES 4: 0.6747 High Sep 20
  • RES 3: 0.6673 20-day EMA
  • RES 2: 0.6656 High Sep 23
  • RES 1: 0.6550 High Sep 26
  • PRICE: 0.6483 @ 16:22 BST Sep 29
  • SUP 1: 0.6363 Low Sep 28
  • SUP 2: 0.6337 Low Apr 24 2020
  • SUP 3: 0.6283 Low Apr 23 2020
  • SUP 4: 0.6255 1.236 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD remains in a downtrend and Wednesday's climb is considered corrective. The outlook is bearish. Recent weakness has resulted in the break of support at 0.6682, the Jul 14 low and a bear trigger. This strengthens bearish conditions and maintains the broader bearish price sequence of lower lows and lower highs. The focus is on 0.6337 next, the Apr 24 2020 low. Initial firm resistance has been defined at 0.6673, the 20-day EMA.

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  • RES 4: 0.6747 High Sep 20
  • RES 3: 0.6673 20-day EMA
  • RES 2: 0.6656 High Sep 23
  • RES 1: 0.6550 High Sep 26
  • PRICE: 0.6483 @ 16:22 BST Sep 29
  • SUP 1: 0.6363 Low Sep 28
  • SUP 2: 0.6337 Low Apr 24 2020
  • SUP 3: 0.6283 Low Apr 23 2020
  • SUP 4: 0.6255 1.236 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD remains in a downtrend and Wednesday's climb is considered corrective. The outlook is bearish. Recent weakness has resulted in the break of support at 0.6682, the Jul 14 low and a bear trigger. This strengthens bearish conditions and maintains the broader bearish price sequence of lower lows and lower highs. The focus is on 0.6337 next, the Apr 24 2020 low. Initial firm resistance has been defined at 0.6673, the 20-day EMA.