AUDUSD 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.
4 Hour AUDUSD Chart
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