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Trend Needle Continues To Point North

AUDUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • 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 May 16
  • PRICE: 0.6664 @ 07:54 BST May 22
  • SUP 1: 0.6610 20-day EMA
  • SUP 2: 0.6573 50-day EMA
  • SUP 3: 0.6465/6407 Low May 1 / Low Apr 22
  • SUP 4: 0.6363 Low Apr 19 and the bear trigger

AUDUSD is in consolidation mode. A bullish condition remains intact following last week’s gains. The move higher resulted in the break of a number of short-term resistance points and the May 15 rally resulted in a breach of a key short-term resistance at 0.6668, the Mar 8 high. The break strengthens a bullish theme and opens 0.6751, a Fibonacci retracement. On the downside, support to watch lies at 0.6573, the 50-day EMA.

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  • 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 May 16
  • PRICE: 0.6664 @ 07:54 BST May 22
  • SUP 1: 0.6610 20-day EMA
  • SUP 2: 0.6573 50-day EMA
  • SUP 3: 0.6465/6407 Low May 1 / Low Apr 22
  • SUP 4: 0.6363 Low Apr 19 and the bear trigger

AUDUSD is in consolidation mode. A bullish condition remains intact following last week’s gains. The move higher resulted in the break of a number of short-term resistance points and the May 15 rally resulted in a breach of a key short-term resistance at 0.6668, the Mar 8 high. The break strengthens a bullish theme and opens 0.6751, a Fibonacci retracement. On the downside, support to watch lies at 0.6573, the 50-day EMA.