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  • RES 4: 0.7432/7471 High Nov 9 / High Nov 4
  • RES 3: 0.7371 High Nov 15
  • RES 2: 0.7266/7305 Former channel base / 20-day EMA
  • RES 1: 0.7228 High Nov 24
  • PRICE: 0.7118 @ 16:56 GMT Nov 29
  • SUP 1: 0.7106 Low Aug 20 and a major support
  • 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 the slide accelerated Friday. 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. Moving average signals have also recently shifted to bear mode, highlighting the current bearish theme. This has exposed key support at 0.7106, Aug 20 low. Initial resistance is 0.7228.

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