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AUDUSD TECHS: Trend Structure Remains Bearish

AUDUSD TECHS
USForeign Exchange Technical AnalysisAPACAustraliaBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 0.6762 High Oct 9   
  • RES 3: 0.6733 High Oct 13             
  • RES 2: 0.6623/88 50-day EMA / High Nov 7 and a reversal trigger  
  • RES 1: 0.6554 20-day EMA
  • PRICE: 0.6488 @ 16:50 GMT Nov 25
  • 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

Recent short-term gains in AUDUSD are considered corrective and a bear cycle remains in play. Support at 0.6513, the Nov 6 low, has recently 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. The pair remains below initial firm resistance at 0.6554, the 20-day EMA. Resistance at the 50-day EMA is at 0.6623.

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  • RES 4: 0.6762 High Oct 9   
  • RES 3: 0.6733 High Oct 13             
  • RES 2: 0.6623/88 50-day EMA / High Nov 7 and a reversal trigger  
  • RES 1: 0.6554 20-day EMA
  • PRICE: 0.6488 @ 16:50 GMT Nov 25
  • 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

Recent short-term gains in AUDUSD are considered corrective and a bear cycle remains in play. Support at 0.6513, the Nov 6 low, has recently 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. The pair remains below initial firm resistance at 0.6554, the 20-day EMA. Resistance at the 50-day EMA is at 0.6623.