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Trend Outlook Remains Bullish

AUDUSD TECHS
  • RES 4: 0.6747 76.4% retracement of the Jul 13 - Oct 26 bear leg
  • RES 3: 0.6723 High Aug 1
  • RES 2: 0.6697 2.0% 10-dma envelope
  • RES 1: 0.6676 High Nov 29
  • PRICE: 0.6618 @ 16:34 GMT Nov 30
  • SUP 1: 0.6516 20-day EMA
  • SUP 2: 0.6466 50-day EMA
  • SUP 3: 0.6339 Low Nov 10
  • SUP 4:0.6315 Low Oct 31

The current uptrend in AUDUSD remains intact for now. This week’s rally has reinforced the bullish significance of the recent break of resistance at 0.6522, the Aug 30 and Sep 1 high. Price has also breached 0.6656, the 61.8% retracement of the Jul 13 - Oct 26 bear leg. This signals scope for an extension towards 0.6697, the 2.0% 10-dma envelope. On the downside, firm support is seen at 0.6516, the 20-day EMA.

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