FED: Pres Trump on Truth Social discussing the Inspector General's [...]

*TRUMP: IRAN STRIKES WILL BE LIMITED - bbg 

*TRUMP: STRAIT OF HORMUZ IN EXTREMELY GOOD SHAPE 

*TRUMP: A LOT OF OIL COMING OUT OF HORMUZ 

*TRUMP: AVERAGING 30 SHIPS A NIGHT OUT OF HORMUZ

• RES 4: 0.7310 1.00 proj of the Mar 30 - May 6 - Jun 30 price swing
• RES 3: 0.7278 High May 6 and key resistance
• RES 2: 0.7223 High May 15
• RES 1: 0.7208 High Aug 28
• PRICE: 0.7164 @ 20:22 BST Aug 31
• SUP 1: 0.7107 20-day EMA 
• SUP 2: 0.7063/0.6922 50-day EMA / Low Jul 29  
• SUP 3: 0.6907 Low Jul 8 
• SUP 4: 0.6865 Low Jun 30 and the bear trigger 

A bull cycle in AUDUSD remains intact and a fresh cycle high last week reinforces current trend conditions. The pair has breached 0.7181, the 76.4% retracement of the May 6 - Jun 30 bear leg. The move higher strengthens the bull theme and maintains the rising price sequence of higher highs and higher lows. Sights are on 0.7223 next, the May 15 high. Key support to watch is the 50-day EMA at 0.7063.

• RES 3: 95.636 - 76.4% retrace of Oct’ 25 - Jan’ 26 downleg (cont)
• RES 2: 95.472 - 61.8% retrace of Oct’ 25 - Mar’ 26 downleg (cont)
• RES 1: 95.270/95.425 - High Jun 26 / High Mar 2 (cont)
• PRICE: 94.880 @ 19:52 BST Aug 31
• SUP 1: 94.875/870 - Low Jul 24 / Low Aug 28 and 31 
• SUP 2: 94.780 - Low Mar 23 / 30 low (cont) and a key M/T support
• SUP 3: 94.664 - 76.4% retracement of the 2008 - 2020 rally 

The Aussie 10-yr futures contract has pierced support at 94.875, the Jul 24 low. A clear break of this level would highlight a resumption of the recent bear leg and signal scope for a deeper retracement that would open 94.780, the Mar 23 / 30 low on the continuation chart and a key medium-term support. A reversal higher would refocus attention on the bull trigger at 95.270, the Jun 26 high.