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Approaching Key Resistance

AUDUSD TECHS
  • RES 4: 0.6961 1.236 proj of the Nov 10 - Dec 4 - Dec 7 price swing
  • RES 3: 0.6921 High Feb 20
  • RES 2: 0.6900 High Jun 16 and a key resistance
  • RES 1: 0.6871 Intraday high
  • PRICE: 0.6849 @ 07:53 GMT Dec 28
  • SUP 1: 0.6773 Low Dec 22
  • SUP 2: 0.6702 20-day EMA
  • SUP 3: 0.6596 50-day EMA
  • SUP 4: 0.6526 Low Dec 7 and key support

Bullish trend conditions in AUDUSD remain intact and this week’s continuation higher reinforces current conditions. The move higher maintains the bullish price sequence of higher highs and higher lows. Sights are on 0.6900, the Jun 16 and the next key key resistance. On the downside, key short-term support is unchanged at 0.6526, the Dec 7 low. Initial firm support is at 0.6702, the 20-day EMA.

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