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Northbound

AUDUSD TECHS
  • RES 4: 0.6739 High Jul 31
  • RES 3: 0.6713/6723 3.0% 10-dma envelope / High Aug 1
  • RES 2: 0.6656 61.8% retracement of the Jul 13 - Oct 26 bear leg
  • RES 1: 0.6616 High Aug 10
  • PRICE: 0.6595 @ 16:30 GMT Nov 27
  • SUP 1: 0.6476 20-day EMA
  • SUP 2: 0.6441/6339 50-day EMA / Low Nov 10
  • SUP 3: 0.6315 Low Oct 31
  • SUP 4: 0.6270 Low Oct 26 nand the bear trigger

AUDUSD traded higher Monday, marking a bullish start to this week’s session. The trend needle continues to point north. The latest rally has resulted in a clear break of former resistance at 0.6522, the Aug 30 and Sep 1 high. This reinforced the bullish theme and signals scope for a continuation higher near-term towards 0.6616 next, the Oct 8 high. On the downside, initial firm support is at 0.6446, the 50-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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