AUDUSD TECHS: Accelerates Losses Having Broken 50-Day EMA

• RES 4: 0.7358 1.764 proj of the Apr 29 - May 1 - 5 price swing 
• RES 3: 0.7355 Top of a bull channel drawn from the Apr 9 ‘25 low
• RES 2: 0.7300 Round number resistance
• RES 1: 0.7223/78 High May 15 / 6 and the bull trigger 
• PRICE: 0.7097 @ 17:05 BST May 19
• SUP 1: 0.7080 Low May 19
• SUP 2: 0.7056 50.0% retracement of the Mar 30 - May 6 bull leg  
• SUP 3: 0.6986 Low Apr 13 
• SUP 4: 0.6899 Low Apr 7

The latest pullback in AUDUSD is considered corrective - for now. Moving average studies are in a bull-mode position and this set-up continues to highlight a dominant uptrend. However, today’s sell-off has delivered a print below the 50-day EMA, at 0.7112. A clear break of this EMA would signal scope for a deeper retracement and expose 0.7056, a Fibonacci retracement. Key resistance and the bull trigger is at 0.7278, the May 6 high.      

• 22,000 TYU6 107 puts, 49 vs. 108-22/0.10% at 1501:54ET

• +18,000 TYU6 106.5 puts, 40 ref 108-14