AUDUSD TECHS: Bears Remain In The Driver’s Seat

• RES 4: 0.6733 High Oct 13  
• RES 3: 0.6688 High Nov 7 and a reversal trigger              
• RES 2: 0.6545 50-day EMA  
• RES 1: 0.6460 20-day EMA5
• PRICE: 0.6358 @ 16:36 GMT Dec 13
• SUP 1: 0.6337 Low Dec 11
• SUP 3: 0.6300 Round number support
• SUP 3: 0.6270 Low Oct 26 ‘23 
• SUP 4: 0.6259 1.000 proj of the Sep 30 - Nov 6 - 7 price swing 

The trend direction in AUDUSD remains down and this week’s extension reinforces the current bearish theme. The move lower maintains the price sequence of lower lows and lower highs. Note that moving average studies are in a bear-mode position too, highlighting a dominant downtrend. Sights are on 0.6259 next, a Fibonacci projection. Initial firm resistance to watch is 0.6460, the 20-day EMA.