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AUDUSD Small Base Sees Shift to an Upside Bias

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AUDUSD Small Base Sees Shift to an Upside Bias

To view the full AUDUSD report with screencasts, click here

A firmer bounce effort to end the week, through the down trend line from mid-November, which had previously capped.

This sees a bullish reversal, shift to a more ranging environment and a potential better base and more bullish tone through .8217.

 Range Parameters: We see the range defined by .8217 and .8033.

 Range Breakout Challenge

 Upside: Above .8217 aims higher for .8276 and maybe .8376.

  • Downside: Below .8033 sees risk lower for the psychological/ option target .8000 and the 61.8% retrace of the 2008-11 rally at .7950.

 For Today:

  • We see an upside bias for .8217 ; break here aims for .8276.
  • But below .8152 opens risk down to .8092.

Daily AUDUSD Chart


4 Hour AUDUSD Chart


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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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