Steve Miley, MSTA
MarketChartist
AUDUSD bear bias
We stated in our last report that “push back towards minor support at .9328 leaves risk through here into early September and lower for .9300 and .9272”.
The push through the higher supports leaves risk to .9272 into midweek, having again failed back from .9375 resistance.
For this week, the threat is to the August lows at .9240/38 and the risk below .9240/38 is to the key .9208/00 area, through which would signal a still more bearish shift.
WHAT CHANGES THIS?
Above .9346 eases bear risks; through .9375 signals a neutral tone, only shifting positive above .9472.
4 Hour AUDUSD Chart
Daily AUDUSD Chart
THERE IS SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES, OPTIONS AND FX PRODUCTS. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE
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