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Pierces Resistance

AUDUSD TECHS
  • RES 4: 0.6956 High Aug 30
  • RES 3: 0.6909 76.4% retracement of the Aug 11 - Oct 13 downleg
  • RES 2: 0.6842 1.618 proj of the Oct 13 - 27 - Nov 3 price swing
  • RES 1: 0.6801 High Nov 30
  • PRICE: 0.6795 @ 20:54 GMT Nov 30
  • SUP 1: 0.6641 Low Nov 29
  • SUP 2: 0.6589/85 50-day EMA / Low Nov 21
  • SUP 3: 0.6387 Low Nov 10
  • SUP 4: 0.6272 Low Nov 3 and a key support

The AUDUSD trend condition is bullish. Firm support to watch lies at 0.6589, the 50-day EMA. A clear break of this average would be seen as a bearish development and signal scope for a deeper retracement instead. On the upside, Wednesday’s gains have resulted in a print above 0.6797, the Nov 15 high. A clear break would resume the uptrend and signal scope for gains above the 0.6800 handle.

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