AUDUSD

Today
  • .6750* bull
  • .6708/16** bull
  • .6695** bull
  • .6655 bull
  • .6639* bull
  • .6607/00 bear
  • .6579 bear
  • .6551 bear
  • .6523 bear
  • .6500** bear

Day trade outlook: Bear trend extends, aiming lower

A plunge lower again Thursday through supports as low as 6633, to reinforce Wednesday's failure back from just below our .6716 resistance level (from .6708) PLUS from Tuesday's notable selloff (before and after the release of the RBA Meeting Minutes), to retain the short- and intermediate-term bear themes, to keep the threat lower into Friday. 

  • We see a downside bias for .6607/00; a break below aims for .6579, maybe .6551.
  • But above .6639 targets .6655; above opens risk up towards .6695.

Intermediate-term outlook

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

Downside threat: We see an intermediate-term downside risk for .6500 and .6249.

What changes this? Above .6777/78 shifts the intermediate-term outlook to neutral and through .6934 to a bull theme.