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AUDUSD corrective consolidation likely before next up leg

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AUDUSD corrective consolidation likely before next up leg

The erratic Tuesday activity to push above .7914 has signaled a more bullish shift to aim still higher into latter March (and early April), though we see an erratic tone in the very near term.

For Today: We see a neutral tone between .7839 and .7910 (but with a negative bias).

  • Break above .7910 aims for .7939.
  • Break below .7839 aims for .7800, maybe .7764/63.

Short-term Outlook - Upside Risks:

  • We now see a more positive tone with the bullish threat to the new rebound peak at .7939.
  • Above here targets .8027 and .8235/ 8296 chart and retrace levels.


A taster of the report above. To view the full AUDUSD report with screencasts, levels and more, click here
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2 Hour AUDUSD Chart


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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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