FxWirePro: AUD/USD extends range trade, finds stiff resistance at 110-EMA at 0.7220

AUD/USD chart on Trading View used for analysis

• AUD/USD is trading in a narrow range, with day's high at 0.7205 and low at 0.7185.
   
• The pair is extending sideways grind, major trend remains bearish.
   
• 110-EMA at 0.7220 and daily cloud offer stiff resistance.
   
• Momentum bullish, break above 110-EMA could see some upside. 
   
• Breakout above 200-DMA required for bullish continuation. Rejection at 110-EMA will see resumption of weakness.

Support levels - 0.7170 (55-EMA), 0.7155 (21-EMA), 0.7113 (20-DMA)

Resistance levels - 0.7220 (110-EMA), 0.7322 (200-DMA), 0.7393 (Dec 3rd, 4th high)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.