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AUD/USD Trying To Hold .9330/20 Pivot Area For Positive Range Bias

Published 06/18/2014, 04:20 AM
Updated 12/12/2023, 05:55 AM

AUD/USD 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.

WHAT CHANGES THIS?

Below .9320 signals a neutral tone, only shifting negative below .9230.
 
Please see full report with levels and latest screencast here:

4 Hour AUD/USD Chart

Daily AUD/USD Chart

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