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- RES 4: 0.7432/7471 High Nov 9 / High Nov 4
- RES 3: 0.7371 High Nov 15
- RES 2: 0.7245/7275 20-day EMA / Former channel base
- RES 1: 0.7198 High Nov 26
- PRICE: 0.7102 @ 06:25 GMT Dec 2
- SUP 1: 0.7063 Low Nov 30
- SUP 2: 0.7049 Low Nov 4, 2020
- SUP 3: 0.7028 Low Nov 3 2020
- SUP 4: 0.6991 Low Nov 2 2020
The AUDUSD trend direction remains down and short-term gains are considered corrective. The recent sell-off through the base of the bull channel drawn from the Aug 20 low reinforces a bearish theme. Furthermore, support at 0.7170, Sep 29 low has been cleared. A resumption of weakness would refocus attention on 0.7049 next, the Nov 4 2020 low. Initial resistance is 0.7198.