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AUD/USD Negative Range Bias Leaves Risk To .8676, Maybe The .8643 Low

Published 10/19/2014, 12:38 AM
Updated 12/12/2023, 05:55 AM

AUD/USD negative tone and support threats

  • Another whipsaw session Thursday to reinforce the range theme, defined by the .8643 cycle low and the .8900 level.
  • The setback from our .8860 resistance maintains a negative bias, despite the bounce from just ahead of .8676 support.
  • However, having pushed through .8705, we see bias back to .8676 and maybe for a retest to .8652/43, through which would see a resumption of a more bearish tone.

WHAT CHANGES THIS?

  • Downside: Below .8643 aims for longer term targets at .8633 and .8595 and maybe for a 2010 swing low at .8315.
  • Upside: Above .8900 aims higher through .8930/35 and .8950 for .9003.

Download our full report with latest screencast & levels here:

AUD/USD 4 Hour Chart

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