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Bullish Conditions Remain Intact

AUDUSD TECHS
  • RES 4: 0.7677 High Jun 6, 2018
  • RES 3: 0.7638 38.2% retracement of the 2013-2020 downtrend
  • RES 2: 0.7583 High Jun 14, 2018
  • RES 1: 0.7572 Intraday high
  • PRICE: 0.7527 @ 11:10 GMT Dec 11
  • SUP 1: 0.7427 Low Dec 10
  • SUP 2: 0.7390 20-day EMA
  • SUP 3: 0.7373 Low Dec 7 and key near-term support
  • SUP 4: 0.7339 Low Nov 30

AUDUSD extended its uptrend yesterday and also traded higher earlier today. This cements the bullish outlook. The Dec 2 break of 0.7414, Sep 1 high and former key resistance confirmed a resumption of the uptrend that began Mar 19. Moving average studies are also in a bull mode reinforcing current conditions. The focus is on 0.7583, the Jun 14, 2018 high and 0.7638, a Fibonacci retracement. Key short-term support is at 0.7373, Dec 7 low.

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