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Remains Above Support At The 50-Day EMA

  • RES 4: 0.6956 High Aug 30
  • RES 3: 0.6909 76.4% retracement of the Aug 11 - Oct 13 downleg
  • RES 2: 0.6800 Round number resistance
  • RES 1: 0.6730/6797 High Nov 18 / 15 and the bull trigger
  • PRICE: 0.6658 @ 07:24 GMT Nov 23
  • SUP 1: 0.6585 Low Nov 21
  • SUP 2: 0.6561 50-day EMA
  • SUP 3: 0.6387 Low Nov 10
  • SUP 4: 0.6272 Low Nov 3 and a key support

The AUDUSD trend condition remains bullish and the latest pullback is likely a correction. The next support lies at 0.6561, the 50-day EMA and represents an important intraday pivot level. A clear break of the average would be seen as a bearish development and signal scope for a deeper retracement. On the upside, a resumption of gains and a break of 0.6797, the Nov 15 high, would resume the uptrend and open the 0.6800 handle.

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