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Remains Below The Oct 27 High

AUDUSD TECHS
  • RES 4: 0.6682 Low Jul 14 and a recent breakout level
  • RES 3: 0.6656 High Sep 23
  • RES 2: 0.6600 Round number resistance
  • RES 1: 0.6526/47 50-day EMA / High Oct 4 and key resistance
  • PRICE: 0.6345 @ 06:55 GMT Nov 3
  • SUP 1: 0.6325/6303 Intraday low / Low Oct 25
  • SUP 2: 0.6210/6170 Low Oct 21 / 13 and the bear trigger
  • SUP 3: 0.6133 1.382 proj of the Apr 5 - May 12 - Jun 3 price swing
  • SUP 4: 0.6099 76.4% retracement of the 2020 - 2021 bull cycle

AUDUSD traded lower Wednesday, extending the pullback from the recent high of 0.6522 on Oct 27. A deeper retracement would undermine the recent bullish theme and refocus attention on the key support at 0.6170, the Oct 13 low. This is the trigger for a resumption of the longer-term downtrend. A recovery would expose 0.6522 where a break is required to signal scope for a stronger corrective bull cycle.

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