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AUDUSD Bullish Re-Energizing Threat Through .9375

Published 05/07/2014, 03:02 AM
Updated 12/12/2023, 05:55 AM

AUD/USD solid rebound points to a more bullish shift

We highlighted in our last client report that the Friday head fake lower and rebound “continues to reject a shift to a more bearish tone and we still see a .9200-.9375 range for early May, but with a constructive bias to aim up through .9320 towards .9375 this week”.

The Tuesday push up above the .9320 modest resistance level leaves risk through midweek for a bullish shift above .9375.

WHAT CHANGES THIS?

Upside: Above .9375 would re-energize the bull tone for .9835/40 targets

Downside: Below .9200 sees a better top and bearish shift to favour erosion through the 200-DMA, .9150 for .8995.

Please see full report with levels and latest audio-visual analysis here:

Daily AUD/USD

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