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- RES 4: 0.7394 High Dec 4, 2018
- RES 3: 0.7356 High Dec 5, 2018
- RES 2: 0.7295 High Jan 2019
- RES 1: 0.7276/84 High Aug 19 / High Feb 2019
- PRICE: 0.7156 @ 10:54 BST Aug 20
- SUP 1: 0.7109 Low Aug 12 and the bear trigger
- SUP 2: 0.7076 Low Aug 3 and a key support
- SUP 3: 0.7064 Low Jul 24
- SUP 4: 07028 50-dma
AUDUSD experienced selling pressure Wednesday and remains vulnerable. The move lower on Aug 19 is a potentially important S/T bearish threat. If correct, it signals the possible start of a correction. The daily pattern on this day is a bearish engulfing candle and is reinforced by a momentum set-up known as bearish divergence between price and momentum. Key resistance and the bull trigger is at 0.7276, Wednesday's high. Watch support at 0.7109.