TECHNICAL ANALYSIS

AUDUSD trades to new 2020 highs


Jobs at the highest level since August 2018

AUDUSD is another pair hitting new highs in 2020. Today’s price broke through the September 1 high at 0.7418 and traded to a daily high of 0, 7443.

Jobs _at the highest level since August 2018

Looking at the daily chart, the next target would be 0.74526. This corresponds to the high price of August 9, 2018. Above it is the high price of July at 0.7483.

Close support on the daily chart hits the old 2020 high at 0.7418, and the swing high dating back to December 2018 at 0.7400.

Exploring the hourly chart below, today’s upward movement saw some pretty decent corrections. However, the latest corrective low did support the November 30 high price at 0.7406. The low price reached 0.74083 before rebounding higher. The level adds to the support and area from 0.7400 to 0.7418.

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