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Probes Its 50-Day EMA

AUDUSD TECHS
  • RES 4: 0.7630 1.236 proj of the Aug 20 - Sep 3 - Sep 29 price swing
  • RES 3: 0.7599 High Jul 6
  • RES 2: 0.7551/57 200-dma / 50.0% of the Feb - Aug sell-off
  • RES 1: 0.7471 High Nov 4
  • PRICE: 0.7419 @ 06:41 GMT Nov 9
  • SUP 1: 0.7398/60 50-day EMA / Low Nov 5
  • SUP 2: 0.7324 Low Oct 13
  • SUP 3: 0.7288 Low Oct 8
  • SUP 4: 0.7226/7170 Low Oct 6 / Low Sep 29

AUDUSD is consolidating. The pair traded lower again Friday and remains vulnerable for now. Dips though are still considered corrective. The recent breach of 0.7546, Oct 21 high confirmed a resumption of the uptrend and opens the 200-dma at 0.7551. Clearance of this average would strengthen bullish conditions. For bears, a clear break of the 50-day EMA at 0.7397 would alter the picture and expose 0.7324 next.

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