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AUDUSD TECHS: Key Support Remains Exposed

AUDUSD TECHS
USForeign Exchange Technical AnalysisGlobalAPACAustraliaBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 0.6762 High Oct 9   
  • RES 3: 0.6733 High Oct 13             
  • RES 2: 0.6647/88 50-day EMA / High Nov 7 and a reversal trigger  
  • RES 1: 0.6582 20-day EMA
  • PRICE: 0.6457 @ 07:56 GMT Nov 18
  • SUP 1: 0.6441 Low Nov 14  
  • SUP 2: 0.6400 Round number support 
  • SUP 3: 0.6350 Low Aug 5 and a key support  
  • SUP 4: 0.6339 Low Nov 10 2023

A bear cycle in AUDUSD remains intact and the move down last week reinforces current conditions. Price is also trading at its recent lows. Support at 0.6513, the Nov 6 low, has been cleared and price is through 0.6490, the 76.4% retracement of the Aug 5 - Sep 30 bull leg. This opens 0.6350, the Aug 5 low and the next key support. Initial firm resistance to watch is 0.6582, the 20-day EMA. The reversal trigger is at 0.6688, the Nov 7 high.

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  • RES 4: 0.6762 High Oct 9   
  • RES 3: 0.6733 High Oct 13             
  • RES 2: 0.6647/88 50-day EMA / High Nov 7 and a reversal trigger  
  • RES 1: 0.6582 20-day EMA
  • PRICE: 0.6457 @ 07:56 GMT Nov 18
  • SUP 1: 0.6441 Low Nov 14  
  • SUP 2: 0.6400 Round number support 
  • SUP 3: 0.6350 Low Aug 5 and a key support  
  • SUP 4: 0.6339 Low Nov 10 2023

A bear cycle in AUDUSD remains intact and the move down last week reinforces current conditions. Price is also trading at its recent lows. Support at 0.6513, the Nov 6 low, has been cleared and price is through 0.6490, the 76.4% retracement of the Aug 5 - Sep 30 bull leg. This opens 0.6350, the Aug 5 low and the next key support. Initial firm resistance to watch is 0.6582, the 20-day EMA. The reversal trigger is at 0.6688, the Nov 7 high.