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Trend Outlook Remains Bullish

AUDUSD TECHS
  • RES 4: 0.6956 High Aug 30
  • RES 3: 0.6909 76.4% retracement of the Aug 11 - Oct 13 downleg
  • RES 2: 0.6800 Round number resistance
  • RES 1: 0.6797 High Nov 15 and the bull trigger
  • PRICE: 0.6777 @ 15:44 GMT Nov 24
  • SUP 1: 0.6634/6585 Low Nov 23 / 21
  • SUP 2: 0.6568 50-day EMA
  • SUP 3: 0.6387 Low Nov 10
  • SUP 4: 0.6272 Low Nov 3 and a key support

The AUDUSD trend condition remains bullish, with the latest pullback looking corrective after Wednesday’s intraday rally. Firm support lies at 0.6568, the 50-day EMA. A clear break of the average would be seen as a bearish development and signal scope for a deeper retracement. On the upside, a continuation higher and a break of 0.6797, the Nov 15 high, would resume the uptrend and open the 0.6800 handle.

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  • RES 4: 0.6956 High Aug 30
  • RES 3: 0.6909 76.4% retracement of the Aug 11 - Oct 13 downleg
  • RES 2: 0.6800 Round number resistance
  • RES 1: 0.6797 High Nov 15 and the bull trigger
  • PRICE: 0.6777 @ 15:44 GMT Nov 24
  • SUP 1: 0.6634/6585 Low Nov 23 / 21
  • SUP 2: 0.6568 50-day EMA
  • SUP 3: 0.6387 Low Nov 10
  • SUP 4: 0.6272 Low Nov 3 and a key support

The AUDUSD trend condition remains bullish, with the latest pullback looking corrective after Wednesday’s intraday rally. Firm support lies at 0.6568, the 50-day EMA. A clear break of the average would be seen as a bearish development and signal scope for a deeper retracement. On the upside, a continuation higher and a break of 0.6797, the Nov 15 high, would resume the uptrend and open the 0.6800 handle.