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AUD/USD Aims Back To .9520

Published 09/23/2013, 02:31 AM
Updated 12/12/2023, 05:55 AM
AUD/USD
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AUD/USD aims back to .9520/30 and higher to .9665/9725

A modest setback into the end of last week, but still above modest support at .9320 and within the range from the Wednesday aggressive rally.

Having hit our .9520 target, 38.2% retrace of the 2013 sell off, we view this activity as corrective and see bullish pressures intact since the push through the previous target area at .9315/45 June/ July failure peaks and the prior reversal of the down trend from April.

We now see risk into late Sept to a chart hurdle/50% retrace, .9665/9725.

Overshoot threat is to the falling 200-DMA, .9860

WHAT CHANGES THIS?

Below .9320 now needed to ease bull risks, only shifting.

Please see latest audio-visual analysis here:

Daily AUDUSD

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