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AUDUSD Bias for Roll Back to .9010/05, Maybe Key .8980 Retrace Support

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AUDUSD Bias for Roll Back to .9010/05, Maybe Key .8980 Retrace Support

AUDUSD bearish extension threat

·         An unexpected and far better recovery effort Tuesday, to probe above our .9110 level, but whilst below .9143/45 and better resistance at .9218/19, we see bias for a roll back to the bounce range into midweek and for renewed bear pressures later into this week.

·         We aim back for modest support at .9055/50 and .9010/05, then for a better push through the .8980 retrace support/

·         A break here would then see the September threat lower for .8925, maybe .8890.

WHAT CHANGES THIS?

·         Above .9110 eases bear risks; through .9219 signals a neutral tone, only shifting positive above .9403.

Download our full report with latest screencast & levels here: http://members.marketchartist.com/Daily/AUDUSD.pdf

 

4 Hour AUDUSD Chart

b2ap3_thumbnail_AUDUSD1.png

Daily AUDUSD Chart

 

b2ap3_thumbnail_AUDUSD2.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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