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Bulls Return

AUSSIE TECHS
  • RES 4: 0.7414 High Sep 1
  • RES 3: 0.7339 3.0% 10-dma envelope
  • RES 2: 0.7314 76.4% retracement of the Sep 1 - Nov 2 downleg
  • RES 1: 0.7289 High Nov 5
  • PRICE: 0.7277 @ 10:45 GMT Nov 6
  • SUP 1: 0.7145 Low Nov 5
  • SUP 2: 0.7138/32 50- day and 20-day EMA support zone
  • SUP 3: 0.7049 Low Nov 4
  • SUP 4: 0.6991 Low Nov 2 and the bear trigger

AUDUSD rallied sharply higher Thursday reinforcing the significance of this week's trendline break drawn off the Sep 1 high. Thursday's gains also resulted in a break of resistance at 0.7243, Oct 9 high. With bullish conditions strengthened, scope is seen for a climb towards 0.7314 next, a Fibonacci retracement and 0.7345, Sep 16 high. Initials support is seen at 0.7145.

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