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Fresh Trend Low

AUDUSD TECHS
  • RES 4: 0.7432/7471 High Nov 9 / High Nov 4
  • RES 3: 0.7371 High Nov 15
  • RES 2: 0.7271/7274 Former channel base / 20-day EMA
  • RES 1: 0.7198/7228 High Nov 26 / High Nov 24
  • PRICE: 0.7112 @ 06:34 GMT Nov 30
  • SUP 1: 0.7093 Intraday low
  • SUP 2: 0.7049 Low Nov 4, 2020
  • SUP 3: 0.7028 Low Nov 3 2020
  • SUP 4: 0.6991 Low Nov 2 2020

AUDUSD remains soft and continues to trend lower. Last week’s price action resulted in a break of the base of its bull channel drawn from the Aug 20 low. Furthermore, support at 0.7170, Sep 29 low has been cleared, reinforcing bearish conditions. Today’s activity has resulted in a move through key support at 0.7106, Aug 20 low. This has exposed 0.7049 next, the Nov 4 2020 low. Initial resistance is 0.7198.

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