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Bullish Price Structure

AUDUSD TECHS
  • RES 4: 0.6909 76.4% retracement of the Aug 11 - Oct 13 downleg
  • RES 3: 0.6800 Round number resistance
  • RES 2: 0.6768 61.8% retracement of the Aug 11 - Oct 13 downleg
  • RES 1: 0.6723 Intraday high
  • PRICE: 0.6700 @ 08:08 GMT Nov 14
  • SUP 1: 0.6522/0.6459 50-day EMA / 20-day EMA
  • SUP 2: 0.6387 Low Nov 10
  • SUP 3: 0.6272 Low Nov 3 and a key support
  • SUP 4: 0.6210/6170 Low Oct 21 / 13 and the bear trigger

AUDUSD remains firm and is holding on to its recent gains and price remains above the 50-day EMA. This strengthens bullish conditions and signals scope for an extension of the rally that started mid-October. The pair has cleared 0.6682, the Jul 14 low and a previous breakout level. Further out, scope is seen for a climb towards 0.6768, a Fibonacci retracement level. Firm short-term support has been defined at 0.6387, last Thursday’s low.

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  • RES 4: 0.6909 76.4% retracement of the Aug 11 - Oct 13 downleg
  • RES 3: 0.6800 Round number resistance
  • RES 2: 0.6768 61.8% retracement of the Aug 11 - Oct 13 downleg
  • RES 1: 0.6723 Intraday high
  • PRICE: 0.6700 @ 08:08 GMT Nov 14
  • SUP 1: 0.6522/0.6459 50-day EMA / 20-day EMA
  • SUP 2: 0.6387 Low Nov 10
  • SUP 3: 0.6272 Low Nov 3 and a key support
  • SUP 4: 0.6210/6170 Low Oct 21 / 13 and the bear trigger

AUDUSD remains firm and is holding on to its recent gains and price remains above the 50-day EMA. This strengthens bullish conditions and signals scope for an extension of the rally that started mid-October. The pair has cleared 0.6682, the Jul 14 low and a previous breakout level. Further out, scope is seen for a climb towards 0.6768, a Fibonacci retracement level. Firm short-term support has been defined at 0.6387, last Thursday’s low.