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AUD/USD Each day Report


Each day Pivots: (S1) 0.7211; (P) 0.7251; (R1) 0.7275; Extra…

Intraday bias in AUD/USD stays on the draw back at this level. As famous earlier than, rebound from 0.7105 is full with three waves as much as 0.7555, and fall from 0.8006 might be able to resume. Additional fall must be seen to 0.7169 help first. Break will goal 0.7105 and under. On the upside, break of 0.7369 resistance is required to point quick time period bottoming. In any other case, outlook will keep mildly bearish in case of restoration.

Within the greater image, with 0.6991 cluster help (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing value motion from 0.8006 as a correction solely. That’s, up development from 0.5506 low would resume after the correction completes. In that case, fundamental focus shall be 0.8135 key resistance (2018 excessive). Sustained break there’ll carry bigger bullish implications. Nevertheless, sustained break of 0.6991 will argue that the entire medium time period development has certainly reversed.

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