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Extends Gains

AUDUSD TECHS
  • RES 4: 0.7732 High Apr 20, 2018
  • RES 3: 0.7677 High Jun 6, 2018
  • RES 2: 0.7638 38.2% retracement of the 2013-2020 downtrend
  • RES 1: 0.7597 Intraday high
  • PRICE: 0.7591 @ 06:31 GMT Dec 17
  • SUP 1: 0.7507 Low Dec 15
  • SUP 2: 0.7432 20-day EMA
  • SUP 3: 0.7399 Low Dec 8
  • SUP 4: 0.7373 Low Dec 7 and key near-term support

AUDUSD gains continue to extend further reinforcing a bullish theme. The Dec 2 break of 0.7414, Sep 1 high and former key resistance confirmed a resumption of the uptrend that began Mar 19. Moving average studies are also in a bull mode highlighting current sentiment. The focus is on 0.7638, a Fibonacci retracement level. Key near-term support is at 0.7507, Dec 15 low. The 20-day EMA intersects at 0.7432, also a firm support area.

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