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Heading North

  • RES 4: 0.6921 High Feb 20
  • RES 3: 0.6900 High Jun 16 and a key resistance
  • RES 2: 0.6847 High Jul 20
  • RES 1: 0.6825 Intraday high
  • PRICE: 0.6819 @ 15:02 GMT Dec 22
  • SUP 1: 0.6779 Low Dec 21
  • SUP 2: 0.6644/6526 20-day EMA / Low Dec 07 and key support
  • SUP 3: 0.6494 Low Nov 20
  • SUP 4: 0.6453 Low Nov 17

Bullish trend conditions in AUDUSD remain intact and yesterday’s rally reinforces current conditions. The pair is also trading higher today. This week’s gains mark an extension of the recent breach of resistance at 0.6691, the Dec 4 high and a bull trigger. Scope is seen for a climb towards 0.6847 next, the Jul 20 high. On the downside, key short-term support is unchanged at 0.6526, the Dec 7 low. Initial firm support is at 0.6644, the 20-day EMA.

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