UK DATA: December Retail Sales Seen Flat M/M, With Downside Risks

• RES 4: 0.6858 1.000 proj of the Nov 21 - Dec 10 - 18 price swing  
• RES 3: 0.6795 0.764 proj of the Nov 21 - Dec 10 - 18 price swing 
• RES 2: 0.6759 High Oct 11 ‘24
• RES 1: 0.6723 High Oct 21 ‘24
• PRICE: 0.6714 @ 06:38 GMT Dec 24 
• SUP 1: 0.6655/6614 Low Dec 23 / 20-day EMA
• SUP 2: 0.6576 50-day EMA 
• SUP 3: 0.6517 Low Nov 27 
• SUP 4: 0.6466/21 Low Nov 26 / 21 

The trend condition in AUDUSD remains bullish and a strong rally this week reinforces current conditions. The pair has cleared a key resistance at 0.6707, the Sep 17 high. The breach confirms a resumption of the medium-term uptrend that started Apr 9. Sights are on 0.6723 and 0.6759, the Oct 21 / 11 high 2024. Initial firm support to watch lies at 0.6614, the 20- day EMA.

• RES 4: $4600.00 - Round number resistance
• RES 3: $4578.3 - 1.618 proj of the Oct 28 - Nov 13 - Nov 18 swing
• RES 2: $4536.0 - 1.500 proj of the Oct 28 - Nov 13 - Nov 18 swing
• RES 1: $4525.8 - Intraday high                    
• PRICE: $4486.1 @ 06:28 GMT Dec 24 
• SUP 1: $4281.3 - 20-day EMA 
• SUP 2: $4170.3 - Low Dec 9 
• SUP 3: $4142.6 - 50-day EMA 
• SUP 4: $3998.1 - Low Nov 18

The trend structure in Gold is unchanged, it remains bullish and another fresh cycle high reinforces current conditions. The break higher confirms a resumption of the primary uptrend. The metal has traded through the psychological $4500.0 handle and this opens $4536.0 next, a Fibonacci projection. Initial firm support to watch lies at $4281.3, the 20-day EMA. A pullback would be considered corrective.

• RES 4: 186.41 2.618 proj of the Jul 31 - Sep 29 - Oct 2 price swing
• RES 3: 185.77 2.5000 proj of the Jul 31 - Sep 29 - Oct 2 price swing
• RES 2: 185.26 Bull channel top drawn from the Feb 28 low
• RES 1: 184.92 High Dec 22
• PRICE: 183.67 @ 06:17 GMT Dec 24
• SUP 1: 182.28/181.57 20-day EMA / Low Dec 17 
• SUP 2: 180.03 50-day EMA 
• SUP 3: 178.48 Low Nov 12
• SUP 4: 177.13 Bull channel support drawn from the Feb 28 low

The trend structure in EURJPY is bullish and a fresh cycle high this week strengthens current conditions. The move higher confirms a resumption of the primary uptrend. Sights are on 185.26, the top of a bull channel drawn from the Feb 28 low. This level also represents a key resistance point. On the downside, support to watch lies at 182.28, the 20-day EMA. A breach of it would signal the start of a corrective cycle.