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AUDUSD Bullish Pressures within the Broader Range

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AUDUSD Bullish Pressures within the Broader Range

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.

Please see full report with levels and latest screencast here: http://members.marketchartist.com/Daily/AUDUSD.pdf

 Daily AUDUSD Chart

b2ap3_thumbnail_AUDUSD1.png

4 hour 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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