AUDUSD

Today
  • .6994* bull
  • .6965** bull
  • .6934*** bull
  • .6905* bull
  • .6888* bull
  • .6823 bear
  • .6813 bear
  • .6797/90 bear
  • .6773/72 bear
  • .6751/49*** bear

Day trade outlook: Intermediate-term bear shift reinforced

A Thursday rebound failure from below our  resistance level to retain bear forces from Wednesday's push below the key .6835 swing support from December (for an intermediate-term bearish shift), PLUS from Tuesday's selloff through the Neckline to the Head & Shoulders topping pattern (and also .6845 January swing support), keeping the bias to the downside for Friday.

  • We see a downside bias for .6823; a break below quickly aims for .6813 and .6797/90, maybe .6773/72.
  • But above .6888 targets. 6905; above opens risk up towards key . 6934.

Intermediate-term outlook

A January push below .6835 for an intermediate-term bearish shift.

Downside threat: We see an intermediate-term downside risk for .6751 and .6668.

What changes this? Above .6934 shifts the intermediate-term outlook straight to a bull theme.