AUDUSD TECHS: Bullish Extension
- RES 4: 0.6688 High Nov 7 ‘24
- RES 3: 0.6677 0.764 proj of the Jun 23 - Jul 11 - 17 price swing
- RES 2: 0.6569/6625 High Aug 14 / 24 and the bull trigger
- RES 1: 0.6542 Intraday high
- PRICE: 0.6531 @ 07:59 BST Aug 29
- SUP 1: 0.6415 Low Aug 21 / 22 and a bear trigger
- SUP 2: 0.6373 Low Jun 23
- SUP 3: 0.6354 38.2% retracement of the Apr 9 - Jul 24 upleg
- SUP 4: 0.6323 Low Apr 16
AUDUSD is holding on to this week’s gains. The latest recovery signals the end of the recent corrective phase and sights are on resistance at 0.6569, the Aug 14 high. Clearance of this level would expose key resistance and the bull trigger at 0.6625, the Aug 24 high. Support to watch lies at 0.6415, the Aug 21 / 22 low. A clear break of it would resume the bear leg and highlight a stronger reversal.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GILTS: Opening calls
Gilt Calls, 91.67/91.78, small downside risks.
SILVER TECHS: Trend Needle Points North
- RES 4: $41.064 - 1.764 proj of the Apr 7 - 25 - May 15 swing
- RES 3: $40.285 - 1.618 proj of the Apr 7 - 25 - May 15 swing
- RES 2: $40.000 - Psychological round number
- RES 1: $39.655 - 1.500 proj of the Apr 7 - 25 - May 15 swing
- PRICE: $38.107 @ 07:55 BST Jul 30
- SUP 1: $37.878 - 20-day EMA
- SUP 2: $36.521 - 50-day EMA
- SUP 3: $35.285 - Low Jun 24
- SUP 4: $33.967 - Low Jun 3
Trend signals in Silver remain bullish. Gains early last week reinforce current trend conditions - the metal traded above resistance at $39.132, the Jul 14 high. The break confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Sights are on $39.655 next, a Fibonacci projection. On the downside, initial support to watch lies at $37.878, the 20-day EMA.
EQUITIES: EU Cash Opening calls
EU Cash Opening calls, set for a steady, flat-ish open.
- Estox 50: -0.07%, Dax: -0.01%, CAC: +0.02%, FTSE -0.00%, SMI +0.07%
