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Off Monday’s High

AUDUSD TECHS
  • RES 4: 0.7516 76.4% of 2018-19 downleg
  • RES 3: 0.7484 High Jul 9 and 10, 2018
  • RES 2: 0.7414 High Sep 1 and the key bull trigger
  • RES 1: 0.7407 High Nov 30
  • PRICE: 0.7367 @ 19:46 GMT Dec 1
  • SUP 1: 0.7325 Low Nov 25
  • SUP 2: 0.7289/55 20-day EMA / Low Nov 19
  • SUP 3: 0.7225 50-day EMA
  • SUP 4: 0.7222 Low Nov 13 and key near-term support

AUDUSD is trading lower from Monday's high. A positive outlook remains intact though, with a bullish trend sequence of higher highs and higher lows dominating. Attention is on 0.7414, Sep 1 high and the bull trigger. A break would open 0.7484, a high last seen in July 2018. Moving average studies are in a bull mode, reinforcing current trending conditions. Key short-term support lies at 0.7255, Nov 19 low.

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