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AUD/USD: Levels Remain The Same

Published 12/22/2014, 07:53 AM
Updated 07/09/2023, 06:31 AM

AUDUSD

AUDUSD same levels apply for today in the bear trend and despite oversold conditions outlook remains negative. Watch immediate support from last week's low at 8114/04 and be ready to go with a break to target the 2010 lows at 8086 and 8065. Yearly lows are obviously important and could hold the downside today being so oversold. Try longs with stops below 8040. However be ready to go with a break lower in the negative trend to target 8005/7995 then important longer term Fibonacci support at 7945.

Any recovery looks limited with immediate resistance at 8160 but above here a selling opportunity at 8200/8210. Try shorts with stops above 8240. Only a break above 8220 turns the outlook more positive and targets resistance at 8265/70. Unlikely any higher at this stage but look for a selling opportunity at strong resistance at 8292/97. Try shorts with stops above 8320.

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