AUDUSD positive bias, aims for .9365/70 targets and above; .9410 is key
· A push up and setback from a final .9365 retrace barrier and topping line at .9370, ahead of the .9410 failure peak from May.
· Despite the setback, we see a positive bias into midweek, from the push last week through firm .9325/35 resistance.
· This is within the context of neutral short-term setup within the broader .9200-.9410 range environment.
· We see firm chart and trend line support into Tuesday holding any dips and see risk to challenge .9365 and maybe .9410 (for range breakout risk).
WHAT CHANGES THIS?
· Upside: Above .9410 aims for the .9460 peak and above to .9525/45.
· Downside: Below .9200 sees a more negative theme for the 200-DMA, .9186 and .9155 and .9060 retracements.
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Daily AUDUSD Chart
4 hour AUDUSD Chart