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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 High Dec 28
  • PRICE: 0.6821 @ 15:24 GMT Dec 29
  • SUP 1: 0.6773 Low Dec 22
  • SUP 2: 0.6714 20-day EMA
  • SUP 3: 0.6605 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 climb maintains the bullish price sequence of higher highs and higher lows. Sights are on 0.6900, the Jun 16 high 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 0.6714, the 20-day EMA. Short-term weakness is considered corrective.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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