AUDUSD TECHS: Bullish Impulsive Wave Extends

• RES 4: 0.6707 High Sep 17 and a bull trigger
• RES 3: 0.6666 2.0% 10-dma Envelope
• RES 2: 0.6644 76.4% retracement of the Sep-Oct bear leg  
• RES 1: 0.6542/0.6618 50-day EMA / High Oct 29
• PRICE: 0.6488 @ 07:59 GMT Nov 5 
• SUP 1: 0.6459 Intraday low
• SUP 2: 0.6440 Low Oct 14 and key support 
• SUP 3: 0.6415 Low Aug 21 / 22 and a bear trigger
• SUP 4: 0.6373 Low Jun 23   

A softer short-term tone in AUDUSD remains intact for now and this week’s move lower reinforces this theme. The pair has also traded through the 50-day EMA - a bearish development that undermines a recent bullish theme. A continuation lower would signal scope for an extension towards the first key support at 0.6440, the Oct 14 low. Key resistance and a short-term bull trigger is at 0.6618, the Oct 29 high. First resistance is at 0.6542, the 50-day EMA.

Gilt opening calls, 93.61/93.66.

Estox 50: -0.62%, Dax: -0.54%, CAC: -0.59%, FTSE -0.20%, SMI -0.25%.