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Trend Remains Down


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Dips Considered A Correction

  • RES 4: 0.7732 High Apr 20, 2018
  • RES 3: 0.7705 2.0% 10-dma envelope
  • RES 2: 0.7677 High Jun 6, 2018
  • RES 1: 0.7640 High Dec 17 and the bull trigger
  • PRICE: 0.7549 @ 06:21 GMT Dec 23
  • SUP 1: 0.7482 20-day EMA
  • SUP 2: 0.7462 Low Dec 21 and a bear trigger
  • SUP 3: 0.7399 Low Dec 8
  • SUP 4: 0.7373 Low Dec 7 and key near-term support

AUDUSD is off recent highs and despite Monday's volatility, maintains a bullish outlook. The pair traded to a fresh trend high of 0.7640 last week reinforcing a bullish theme. Moving average studies are also in a bull mode and together with a positive price sequence of higher highs and higher lows, reinforce the current bullish theme. The focus is on 0.7677 next, Jun 6, 2018 high. Key support is at 0.7462, a break would alter the short-term picture.

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