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Bull Leg Extends

AUDUSD TECHS
  • RES 4: 0.6900 High Jun 16 and a key resistance
  • RES 3: 0.6847 High Jul 20
  • RES 2: 0.6821 High Jul 27
  • RES 1: 0.6775 High Dec 19
  • PRICE: 0.6770 @ 15:48 GMT Dec 19
  • SUP 1: 0.6655 Low Dec 14
  • SUP 2: 0.6591/26 20-day EMA / Low Dec 07
  • SUP 3: 0.6524 50-day EMA
  • SUP 4: 0.6453 Low Nov 17

The uptrend in AUDUSD remains intact and Tuesday’s gains have reinforced current conditions. This marks an extension of last week’s move higher and the break of resistance at 0.6691, the Dec 4 high and a bull trigger. This paves the way for a climb towards the 0.6800 handle and 0.6821, the Jul 27 high. On the downside, key short-term support has been defined at 0.6526, the Dec 7 low. Initial firm support is at 0.6591, the 20-day EMA.

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

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