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AUDUSD Stalls Back from .9322/30 Barriers to Leave Bear Risks Intact

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AUDUSD Stalls Back from .9322/30 Barriers to Leave Bear Risks Intact

AUDUSD bearish extension bias

·         A better bounce effort than we had anticipated Wednesday, through minor, initial resistance at .9290, but the capped by a cluster of pivotal/ retrace/ trend barriers in the .9322/30 area we had flagged.

·         Whilst capped here, we see bias for a roll back lower to the range, for a move back to .9260 and maybe then more notable supports at .9240/30.

·         Moreover, the risk is still lower through, mid-August and we aim through .9230 for the key .9208/00 area this week.

·         Below here sets a bigger top for .9180 and .9080.


·         Above .9325 eases bear risks; through .9375 signals a neutral tone, only shifting positive above .9472.

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4 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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