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Approaching The Bull Trigger

AUDUSD TECHS
  • RES 4: 0.7516 76.4% of 2018-19 downleg
  • RES 3: 0.7484 High Jul 9 and 10, 2018
  • RES 2: 0.7414 High Sep 1 and the key bull trigger
  • RES 1: 0.7399 High Nov 27
  • PRICE: 0.7348 @ 16:30 GMT Nov 30
  • SUP 1: 0.7325 Low Nov 25
  • SUP 2: 0.7283/55 20-day EMA / Low Nov 19
  • SUP 3: 0.7222 Low Nov 13 and key near-term support
  • SUP 4: 0.7220 50-day EMA

AUDUSD started the session well before retracing into the close and settling lower. A positive outlook remains though, with a bullish trend sequence of higher highs and higher lows intact. Attention is on 0.7414, Sep 1 high and the key bull trigger. A break would open 0.7484, a high last seen in July 2018. Moving average studies are in a bull mode, reinforcing current trending conditions. Key short-term support lies at 0.7255, Nov 19 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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