AUDUSD

Today
  • 7194* bull
  • .7138** bull
  • .7069** bull
  • .7047** bull
  • .7010 bull
  • .6866** bear
  • .6855/44*** bear
  • .6799/90** bear
  • .6716/11** bear
  • .6678** bear

Consolidation, upside bias 

Day trade update and view

A Tuesday consolidation after Monday's strong advance through .6990 resistance to .7010, to reject Friday significant sell off that held above the key .6855/44 support area at .6866, to restart bull pressures seen since the latter July rebounds from .6875 and above our .6844 support from .6855, plus from the strong mid-July advance through key .6875/87 resistances (for an intermediate-term bullish shift), leaving risks to the upside Wednesday.  

Day trade setup

  • We see an upside bias for .7010; a break here maybe aims for .7047 and .7069.
  • But below .6866 very quickly opens risk down to key .6855/44 supports, maybe .6799/90.

Intermediate-term outlook

The mid-July push above key .6875/87 resistances  signalled an intermediate-term shift to a bull trend.

Upside risks: We see an intermediate-term bull trend to aim for .7069 and .7283.

What changes this? Below .6855/44 shifts the intermediate-term bull trend straight to an intermediate-term bear trend.