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Pierces Support At The 50-Day EMA

AUDUSD TECHS
  • RES 4: 0.6976 2.00 proj of the Oct 13 - 27 - Nov 3 price swing
  • RES 3: 0.6956 High Aug 30
  • RES 2: 0.6909 76.4% retracement of the Aug 11 - Oct 13 downleg
  • RES 1: 0.6744/6893 High Dec 20 / High Dec 13 and the bull trigger
  • PRICE: 0.6723 @ 15:42 GMT Dec 21
  • SUP 1: 0.6629 Low Dec 20
  • SUP 2: 0.6585 Low Nov 21 and a key short-term support
  • SUP 3: 0.6531 50.0% retracement of the Oct 13 - Dec 13 climb
  • SUP 4: 0.6500 Round number support

A sharp sell-off in AUDUSD last Thursday signalled a S/T top and Tuesday’s move lower reinforced this turn. The 20-day EMA has been cleared and attention is on the 50-day EMA at 0.6662 - this average has been pierced. A clear break would suggest potential for a deeper retracement towards 0.6585, the Nov 21 low. On the upside, key resistance has been defined at 0.6893, Dec 13 high. A break would resume the recent uptrend.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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