HUNGARY: Hungary, UK Foreign Ministers Discuss Energy Cooperation

• RES 4: 0.6471 High Dec 9
• RES 3: 0.6444 50-day EMA               
• RES 2: 0.6384 High Dec 13   
• RES 1: 0.6274/6323 Low Dec 20 / 20-day EMA
• PRICE: 0.6236 @ 08:08 GMT Dec 30
• SUP 1: 0.6199 Low Dec 19 
• SUP 3: 0.6158 1.236 proj of the Sep 30 - Nov 6 - 7 price swing
• SUP 3: 0.6100 Round number support 
• SUP 4: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing

AUDUSD bears remain in the driver’s seat and the pair is trading closer to latest lows. Recent weakness 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. Scope is seen for an extension towards 0.6158 next, a Fibonacci projection. Initial firm resistance to monitor is 0.6323, the 20-day EMA.

• RES 4: 166.69 High Oct 31 
• RES 3: 166.18 2.0% 10-dma envelope  
• RES 2: 166.10 High Nov 6
• RES 1: 165.04 High Nov 15 and a key short-term resistance
• PRICE: 164.66 @ 08:02 GMT Dec 30
• SUP 1: 163.32 Low Dec 26   
• SUP 2: 162.22/159.82 20-day EMA / Low Dec 18
• SUP 3: 158.67 Low Dec 11
• SUP 4: 157.87 Low Dec 09

A bullish condition in EURJPY remains intact and the cross is holding on to its recent gains. Price has breached all the relevant Fibonacci retracement points of the bear leg between Oct 31 - Dec 3. Sights are on 165.04, the Nov 15 high. Clearance of this hurdle would open 166.69, the Oct 31 high and the next major resistance. Initial firm support lies at 162.22, the 20-day EMA. A  pullback would be considered corrective.