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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: 0.6490 High Apr 23
  • PRICE: 0.6479 @ 16:28 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.

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