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Bullish Extension

AUDUSD TECHS
  • RES 4: 0.6961 1.236 proj of the Nov 10 - Dec 4 - Dec 7 price swing
  • RES 3: 0.6921 High Feb 20
  • RES 2: 0.6900 High Jun 16 and a key resistance
  • RES 1: 0.6846/47 High Dec 27 / Jul 20
  • PRICE: 0.6846 @ 15:28 GMT Dec 27
  • SUP 1: 0.6726 Low Dec 21
  • SUP 2: 0.6687/6526 20-day EMA / Low Dec 07 and key support
  • SUP 3: 0.6494 Low Nov 20
  • SUP 4: 0.6453 Low Nov 17

Bullish trend conditions in AUDUSD remain intact and a fresh trend high once again today, reinforces current conditions. The move higher marks an extension of the recent breach of resistance at 0.6691, the Dec 4 high and a bull trigger. Scope is seen for a climb towards 0.6900, the Jun 16 and a key resistance. On the downside, key short-term support is unchanged at 0.6526, the Dec 7 low. Initial firm support is at 0.6687, the 20-day EMA.

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

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