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Bulls Remain In The Driver’s Seat

AUDUSD TECHS
  • RES 4: 0.6739 High Jul 31
  • RES 3: 0.6713/6723 3.0% 10-dma envelope / High Aug 1
  • RES 2: 0.6687 2.0% 10-dma envelope
  • RES 1: 0.6666 High Nov 28
  • PRICE: 0.6663 @ 17:05 GMT Nov 28
  • SUP 1: 0.6491 20-day EMA
  • SUP 2: 0.6453/6339 50-day EMA / Low Nov 10
  • SUP 3: 0.6315 Low Oct 31
  • SUP 4: 0.6270 Low Oct 26 nand the bear trigger

AUDUSD traded higher again Tuesday, topping resistance at 0.6632 and 0.6656 in the process. This firms the recent rally after the clear break of former resistance at 0.6522, the Aug 30 and Sep 1 high. This breach reinforced the bullish theme and signals scope for a continuation higher near-term towards 0.6687, the 2.0% 10-dma envelope. Initial firm support is at 0.6453, the 50-day EMA.

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