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Support Remains Intact

AUDUSD TECHS
  • RES 4: 0.6976 2.00 proj of the Oct 13 - 27 - Nov 3 price swing
  • RES 3: 0.6956 High Aug 30
  • RES 2: 0.6909 76.4% retracement of the Aug 11 - Oct 13 downleg
  • RES 1: 0.6801/6893 High Dec 28 / 13 and the bull trigger
  • PRICE: 0.6777 @ 07:50 GMT Dec 30
  • SUP 1: 0.6629 Low Dec 20 and key short-term support.
  • SUP 2: 0.6585 Low Nov 21 and a key short-term support
  • SUP 3: 0.6531 50.0% retracement of the Oct 13 - Dec 13 climb
  • SUP 4: 0.6500 Round number support

AUDUSD is holding on to the bulk of its most recent gains. Support at the 50-day EMA - at 0.6677 - remains intact for now. A clear break of this EMA is required to suggest scope for a deeper pullback and 0.6629, the Dec 20 low, is seen as a key short-term bear trigger. A stronger resumption of gains would refocus attention on 0.6893, the Dec 13 high and the bull trigger. Clearance of this level would resume the recent uptrend.

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