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Approaching Resistance

AUDUSD TECHS
  • RES 4: 0.6603 3.0% 10-dma envelope
  • RES 3: 0.6582 50.0% retracement of the Jul 13 - Oct 26 bear leg
  • RES 2: 0.6522/23 High Aug 30 and Sep 1 / Nov 6 and key resistance
  • RES 1: 0.6493 High Nov 14
  • PRICE: 0.6493 @ 16:36 GMT Nov 14
  • SUP 1: 0.6339 Low Nov 10
  • SUP 2: 0.6315/0.6270 Low Oct 31 / 26 and the bear trigger
  • SUP 3: 0.6215 2.236 proj of the Jun 16 - Jun 29 - Jul 13 price swing
  • SUP 4: 0.6170 Low Oct 13 2022 and a key support

AUDUSD traded sharply higher Tuesday. A bull cycle is in play and the move down that started Nov 11, appears to be a correction. A continuation higher would signal scope for a test of key short-term resistance at 0.6523, the Nov 6 high and a bull trigger. Clearance of this level would strengthen a bullish case. Support to watch lies at 0.6339, the Nov 10 low. A break of this level would instead expose the key support at 0.6270, the Oct 26 low.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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