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AUDUSD TECHS: Southbound

AUDUSD TECHS
USForeign Exchange Technical AnalysisAPACAustraliaBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 0.6762 High Oct 9   
  • RES 3: 0.6733 High Oct 13             
  • RES 2: 0.6567/88 50-day EMA / High Nov 7 and a reversal trigger  
  • RES 1: 0.6491 20-day EMA
  • PRICE: 0.6378 @ 15:47 GMT Dec 10
  • SUP 1: 0.6370 Low Dec 10
  • SUP 3: 0.6350 Low Aug 5 and a key support 
  • SUP 3: 0.6339 Low Nov 10 2023 
  • SUP 4: 0.6259 1.000 proj of the Sep 30 - Nov 6 - 7 price swing 

The trend condition in AUDUSD remains bearish and price is trading just above last week’s cycle low. The latest move down has once again confirmed a resumption of the downtrend. Moving average studies are in a bear-mode position too, highlighting a dominant downtrend. Scope is seen for an extension towards 0.6350, the Aug 5 low and the next key support. Initial firm resistance to watch is 0.6491, the 20-day EMA. 

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  • RES 4: 0.6762 High Oct 9   
  • RES 3: 0.6733 High Oct 13             
  • RES 2: 0.6567/88 50-day EMA / High Nov 7 and a reversal trigger  
  • RES 1: 0.6491 20-day EMA
  • PRICE: 0.6378 @ 15:47 GMT Dec 10
  • SUP 1: 0.6370 Low Dec 10
  • SUP 3: 0.6350 Low Aug 5 and a key support 
  • SUP 3: 0.6339 Low Nov 10 2023 
  • SUP 4: 0.6259 1.000 proj of the Sep 30 - Nov 6 - 7 price swing 

The trend condition in AUDUSD remains bearish and price is trading just above last week’s cycle low. The latest move down has once again confirmed a resumption of the downtrend. Moving average studies are in a bear-mode position too, highlighting a dominant downtrend. Scope is seen for an extension towards 0.6350, the Aug 5 low and the next key support. Initial firm resistance to watch is 0.6491, the 20-day EMA.