Steve Miley, MSTA
MarketChartist
AUDUSD bearish extension threat
An unexpected and far better recovery effort Tuesday, to probe above our .9110 level, but whilst below .9143/45 and better resistance at .9218/19, we see bias for a roll back to the bounce range into midweek and for renewed bear pressures later into this week.
We aim back for modest support at .9055/50 and .9010/05, then for a better push through the .8980 retrace support/
A break here would then see the September threat lower for .8925, maybe .8890.
WHAT CHANGES THIS?
- Above .9110 eases bear risks; through .9219 signals a neutral tone, only shifting positive above .9403.
4 Hour AUDUSD Chart
Daily AUDUSD Chart
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