AUD/USD Sees Negative Range Theme
Steve Miley | Jul 15, 2014 02:47AM ET
AUD/USD: downside bias through .9360 for .9340/30 area
Narrow range activity to start the week, as we had expected and flagged, within the erratic outside pattern Thursday and a range to maintain a neutral tone after a setback from the .9470 retrace, but holding above .9340/30 supports.
This reinforces a still very indecisive tone into midweek for a broader range theme defined by the Thursday high at .9455 and key .9322 swing low.
We see a defensive consolidation Tuesday below the .9410/15 resistance area, with risk closer to .9340/30 props.
WHAT CHANGES THIS?
Upside: Above .9455 aims through the .9505 cycle high to retrace and chart targets at .9525/45.
Downside: Below .9322 sees a better top and bearish shift to target at .9258, 9230 and maybe the key .9208/00 area.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.