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Approaching The Bull Trigger

  • RES 4: 0.7516/22 76.4% of 2018-19 downleg / 3% 10-dma envelope
  • RES 3: 0.7484 High Jul 9 and 10, 2018
  • RES 2: 0.7414 High Sep 1 and the key bull trigger
  • RES 1: 0.7386 Intraday high
  • PRICE: 0.7373 @ 10:56 GMT Nov 27
  • SUP 1: 0.7283/55 20-day EMA / Low Nov 19
  • SUP 2: 0.7222 Low Nov 13 and key near-term support
  • SUP 3: 0.7213 50-day EMA
  • SUP 4: 0.7145 Low Nov 5

AUDUSD continues to climb as the pair trades north of resistance at 0.7340, Nov 9 and 17 high. A positive outlook remains intact with 0.7345, Sep 16 high also cleared. This confirms a resumption of bullish activity paving the way for a climb towards 0.7414, Sep 1 high and the key bull trigger. Moving average studies are in a bull mode, reinforcing current trending conditions. Key short-term support lies at 0.7222, Nov 13 low.

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