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Trend Needle Still Points South

AUDUSD TECHS
  • RES 4: 0.7202 High Jun 9
  • RES 3: 0.7138 High Jun 10
  • RES 2: 0.0.7017/69 50-day EMA / High Jun 16 and a key resistance
  • RES 1: 0.6910/6964 20-day EMA / High Jun 28
  • PRICE: 0.6812 @ 06:57 BST Jul 11
  • SUP 1: 0.6762 Low Jul 5 / 6
  • SUP 2: 0.6759 50.0% retracement of the Mar ‘20 - Feb ‘ 21 bull cycle
  • SUP 3: 0.6685 High Mar 9 2020
  • SUP 4: 0.6647 0.764 proj of the Apr 5 - May 12 - Jun 3 price swing

AUDUSD remains closer to its recent lows and trend conditions remain bearish This follows the recent breach of 0.6829, May 12 low. The break strengthens bearish conditions and confirms a resumption of the downtrend that started February 2021. The move lower also maintains a broader bearish price sequence of lower lows and lower highs. Sights are on 0.6759 next, a Fibonacci retracement. Initial firm resistance is seen at 0.6964, high Jun 28.

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