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Remains Below The Bull Channel Base

  • RES 4: 0.7529/57 200-dma / 50.0% of the Feb - Aug sell-off
  • RES 3: 0.7432/7471 High Nov 9 / High Nov 4
  • RES 2: 0.7371 High Nov 15
  • RES 1: 0.7264/93 Former channel low from Aug 20 low / High Nov 18
  • PRICE: 0.7205 @ 06:41 GMT Nov 25
  • SUP 1: 0.7184 Low Nov 24
  • SUP 2: 0.7170 Low Sep 29
  • SUP 3: 0.7106 Low Aug 20 and a major support
  • SUP 4: 0.7049 Low Nov 4, 2020

AUDUSD remains soft. The pair has this week breached the base of its bull channel drawn from the Aug 20 low. The break reinforces bearish conditions and signals scope for a deeper short-term pullback. Moving average signals have also shifted to bear mode, highlighting the current direction. The move lower has opened 0.7170, Sep 29 low where a break would expose 0.7106 further out, Aug 20 low. Resistance to watch is at 0.7371, Nov 15 high.

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