AUDUSD TECHS: Remains Above Support

• RES 4: 0.8769 High Jul 28 and the bull trigger   
• RES 3: 0.8744 High Aug 7 
• RES 2: 0.8682 High Aug 8  
• RES 1: 0.8674 High Aug 25 / 28 and a key near-term resistance 
• PRICE: 0.8643 @ 19:49 BST Sep 1
• SUP 1: 0.8597 Low Aug 14 and the bear trigger 
• SUP 2: 0.8562 50.0% retracement May 29 - Jul 28 upleg 
• SUP 3: 0.8540 Low Jun 30 
• SUP 4: 0.8514 61.8% retracement May 29 - Jul 28 upleg

EURGBP continues to trade below its most recent highs. A bear threat is present and attention is on support at 0.8597, the Aug 14 low. Clearance of this level would confirm a resumption of the downtrend that started Jul 28 and highlight potential for a deeper retracement. This would open 0.8562, a Fibonacci retracement. For bulls, resistance to watch is 0.8674, the Aug 25 and 29 high. A breach would instead signal a stronger reversal. 

• RES 3: 96.501 - 76.4% of the Mar 14 - Nov 1 ‘23 bear leg
• RES 2: 96.207 - 61.8% of the Mar 14 - Nov 1 ‘23 bear leg
• RES 1: 95.805/960 - High Aug 8 / High Apr 7
• PRICE: 95.645 @ 19:40 BST Sep 1
• SUP 1: 95.415/95.300 - Low May 15 / Low Jan 14  
• SUP 2: 95.275 - Low Nov 14  (cont) and a key support
• SUP 3: 94.720 - 1.0% 10-dma envelope

Aussie 10-yr futures remain above their recent lows - for now. To the upside, the next resistance is at 96.207, a Fibonacci retracement point. Initial near-term resistance is seen at 95.805, the Aug 4 high. A break of this hurdle would be a bullish development. Next support undercuts at 95.420 (pierced), the Feb 13 low, ahead of 95.275, the Nov 14 low and a key support. Clearance of this level would strengthen a bearish condition.

• RES 4: 1.3753 High High Jul 2   
• RES 3: 1.3681 High Jul 4 
• RES 2: 1.3636 76.4% retracement of the Jul 1 - Aug1 downleg
• RES 1: 1.3550/3595 High Sep 1 / High Aug 14
• PRICE: 1.3543 @ 19:36 BST Sep 1
• SUP 1: 1.3391 Low Aug 22 and the bear trigger  
• SUP 2: 1.3315 61.8% retracement of the Aug 1 - 14 bull leg
• SUP 3: 1.3249 76.4% retracement of the Aug 1 - 14 bull leg 
• SUP 4: 1.3142 Low Aug 1 and a key support      

The outlook in GBPUSD remains bullish and the pair continues to trade above support. The Aug 22 price pattern - a bullish engulfing candle - signals the end of a recent corrective phase. A continuation higher would open the short-term bull trigger at 1.3595, the Aug 14 high. Clearance of this level would signal scope for a climb towards 1.3636, 76.4% of the bear leg between Jul 1 and Aug 1. Key short-term support is 1.3391, the Aug 22 low.