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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: 0.6776 Intraday high
  • PRICE: 0.6773 @ 07:53 GMT Dec 20
  • SUP 1: 0.6655 Low Dec 14
  • SUP 2: 0.6617/6526 20-day EMA / Low Dec 07
  • SUP 3: 0.6494 Low Nov 20
  • SUP 4: 0.6453 Low Nov 17

The uptrend in AUDUSD remains intact and Tuesday’s gains 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. Scope is seen for a climb 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 0.6617, the 20-day EMA.

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