Daily Outlook For AUD/USD
Ian Copsey | Feb 23, 2017 01:03AM ET
AUD/USD INTRA-DAY CHART
BIAS: We should see losses down to 0.7616-25 and below
Resistance: 0.7690-00 0.7714 0.7732 0.7754
Support: 0.7665 0.7649 0.7615-26 0.7570-00
MAIN ANALYSIS: My goodness, even when I eyeballed that structure in the chart I did not really believe it, but it was valid. So, while 0.7690-95 caps we should see losses down through 0.7665 and to either 0.7625 or 0.7616 for a pullback and then losses to below 0.7605.
COUNTER ANALYSIS: Any earlier break above 0.7700-05 would frustrate and could signal gains above 0.7714 and likely above 0.7732 towards the 0.7777 high.
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