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AUDUSD bear pressures aims through cycle low at .7560

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AUDUSD bear pressures aims through cycle low at .7560

Another new setback low to reinforce the bear shift that has been threatened all week and signaled by the Tuesday push below .7591.

We repeat that "the Weekly Gravestone Doji/ Shooting Star leaves a negative bias" and we see a more bearish tone into April (despite the Wednesday bounce).

Short/ Intermediate-term Outlook - Downside Risks:

  • We now see a more negative tone with the bearish threat to the cycle low at .7560,
  • Below sees the psychological/ option target at .7500 and the a key chart level from 2009 at .7267.

 

A taster of the report above. To view the full AUDUSD report with screencasts, levels and more, click here
Remember, for a FREE trial of our FX and all other reports, sign up by clicking here

2 Hour AUDUSD Chart

b2ap3_thumbnail_AUDUSD2_20150402-052235_1.png

Monthly AUDUSD Chart

b2ap3_thumbnail_AUDUSD1_20150402-052634_1.png

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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.


He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).


Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.


Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.

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