April 23, 2024 06:31 GMT
Trend Structure Remains Bearish
AUDUSD TECHS
- RES 4: 0.6644 High Apr 9
- RES 3: 0.6529 50-day EMA
- RES 2: 0.6494 20-day EMA
- RES 1: 0.6465 Intraday high
- PRICE: 0.6451 @ 07:30 BST Apr 23
- SUP 1: 0.6363 Low Apr 19
- SUP 2: 0.6339 Low Nov 10 and a key support
- SUP 3: 0.6315 Low Oct 31 ‘23
- SUP 4: 0.6270 Low Oct 26 ‘23 and a key support
The trend condition in AUDUSD remains bearish and short-term gains are considered corrective - for now. Key support at 0.6443, Feb 13 low, has recently been cleared, marking an important technical breach that confirms a resumption of the downtrend that started late December last year. Scope is seen for an extension towards 0.6339, the Nov 10 ‘23 low. Firm resistance is at 0.6529, the 50-day EMA. Short-term gains would be considered corrective.
129 words