AUDUSD TECHS: Corrective Pullback Extends
- RES 4: 0.6771 High Jan 3
- RES 3: 0.6751 76.4% retracement of the Dec 28 - Apr 19 bear leg
- RES 2: 0.6729 High Jan 12
- RES 1: 0.6714 High May 16 and the bull trigger
- PRICE: 0.6599 @ 07:59 BST May 24
- SUP 1: 0.6592 Intraday low
- SUP 2: 0.6576 50-day EMA
- SUP 3: 0.6465/6407 Low May 1 / Low Apr 22
- SUP 4: 0.6363 Low Apr 19 and the bear trigger
AUDUSD has traded lower this week. The latest pullback appears to be a correction and a bullish condition remains intact following recent gains. The pair has recently breached a key short-term hurdle at 0.6668, the Mar 8 high. The break strengthens a bullish theme and a resumption of gains would open 0.6751, a Fibonacci retracement. On the downside, support to watch lies at 0.6576, the 50-day EMA.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
USDCAD TECHS: Corrective Pullback Extends
- RES 4: 1.3899 High Nov 1 and a key resistance
- RES 3: 1.3855 High Nov 10 2023
- RES 2: 1.3804/46 High Apr 19 / 16
- RES 1: 1.3714 High Ap 23
- PRICE: 1.3674 @ 07:59 BST Apr 24
- SUP 1: 1.3655 Intraday low
- SUP 2: 1.3598 50-day EMA
- SUP 3: 1.3547 Low Apr 9
- SUP 4: 1.3478 Low Apr 4
USDCAD traded lower again Tuesday. Nonetheless, a bullish trend condition remains intact and the most recent pullback appears to be a correction. The pair has recently cleared resistance at 1.3614, the Mar 19, 22, 25 and 29 high. This opens 1.3855 next, the Nov 10 ‘23 high. Note that moving average studies remain in a bull-mode position, highlighting a clear rising trend. The 20-day EMA has been pierced. Support at the 50-day EMA lies at 1.3598.
GILTS: Opening calls
Gilt opening calls, range 96.59/96.68.
EQUITIES: EU Cash opening calls
Estox 50: +0.74%, Dax: +0.81%, CAC: +0.24%, FTSE +0.78%, SMI -0.11%.
