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Clears Resistance

AUDUSD TECHS
  • RES 4: 0.6723 High Aug 1
  • RES 3: 0.6656 61.8% retracement of the Jul 13 - Oct 26 bear leg
  • RES 2: 0.6644 3.0% 10-dma envelope
  • RES 1: 0.6616 High Oct 8
  • PRICE: 0.6570 @ 07:54 GMT Nov 21
  • SUP 1: 0.6453 Low Nov 17
  • SUP 2: 0.6426/6339 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 maintains a firmer tone and the pair is trading higher once again today. The latest rally has resulted in a clear break of former resistance at 0.6522, the Aug 30 and Sep 1 high. The breach is an important short-term bullish development and signals scope for a continuation higher near-term towards 0.6616 next, the Oct 8 high. Initial firm support is at 0.6426, the 50-day EMA.

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