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Tops Bull Trigger

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: 0.6893 High Dec 12
  • PRICE: 0.6877 @ 16:45 GMT Dec 13
  • SUP 1: 0.6669 Low Dec 7
  • SUP 2: 0.6640/6585 50-day EMA / Low Nov 21
  • SUP 3: 0.6387 Low Nov 10
  • SUP 4: 0.6272 Low Nov 3 and a key support

The AUDUSD trend condition is bullish and the pair cleared the bull trigger at the Dec 5 high of 0.6851. Clearance here resumes the uptrend and opens 0.6909, a Fibonacci retracement. On any turn lower, the key support level to watch is 0.6640, the 50-day EMA. A clear break of this average would highlight a bearish development and signal scope for a deeper retracement.

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