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AUDUSD Trying to Hold .9330/20 Pivot Area for Positive Range Bias

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AUDUSD Trying to Hold .9330/20 Pivot Area for Positive Range Bias

AUDUSD constructive range tone whilst above .9330/20

·         A far deeper setback than we had anticipated on Tuesday with a plunge through trend line and chart support at .9350, to just hold in the .9330/20 pivot area.

·         This leaves a more neutral tone into midweek, though the strong June rally from ahead of .9200 to push above .9410 leaves the short-term outlook still bullish for the week.

·         We see a digestion above .9320 and below .9405 for Wednesday ahead of the FOMC.

·         For the week, we see risks still back higher for a test to .9405 and maybe the .9460 peak and above to notable retrace and chart targets at .9525/45.


·         Below .9320 signals a neutral tone, only shifting negative below .9230.


Please see full report with levels and latest screencast here:



4 Hour AUDUSD Chart


Daily 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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