AUDUSD

Today
  • .6384* bull
  • .6326* bull
  • .6281*** bull
  • .6233 bull
  • .6202 bull
  • .6084 bear
  • .6019** bear
  • .5968 bear
  • .5907 bear
  • .5868/60** bear

Day trade outlook: High-level consolidation leaves risks higher, for key .6281

A high-level consolidation theme Monday above .6084 initial support, to retain upside forces from Friday's surge above key .6185 (to shift the intermediate-term bearish theme to neutral, range seen as .6281 to .569), PLUS from the surge from mid-March through numerous resistances including the down trend line from early March, to keep the risk higher into Tuesday. 

  • We see an upside bias for .6202 and .6233; a break above aims for key .6281 and .6326, maybe towards .6384.
  • But below .6084 targets .6019, which we would look to try to hold. Below targets .5968 and maybe towards .5907.

Intermediate-term outlook

The late March surge above below .6185 saw an intermediate-term shift to a range seen as .6281 to .5696.

Downside threat: Above .6281 sets an intermediate-term bull trend for .6645, .6685 maybe .6750.

Downside threat: Below .5696 sets an intermediate-term bear trend for .5505, .5417 maybe .5000.