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AUD/USD Every day Report


Every day Pivots: (S1) 0.7176; (P) 0.7202; (R1) 0.7220; Extra…

AUD/USD’s fall remains to be in progress and intraday bias stays on the draw back for 0.7169 help first. Decisive break there’ll affirm the case that bigger decline from 0.8006 is resuming. Subsequent goal is 0.7105 help for affirmation. On the upside, break of 0.7272 minor resistance will flip intraday bias impartial and convey consolidations first, earlier than staging one other fall.

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 worth motion from 0.8006 as a correction solely. That’s, up pattern from 0.5506 low would resume after the correction completes. In that case, important focus can 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 pattern has certainly reversed.

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