$0.9344 resistance remains key to AUD/USD recovery

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The 0.9344 high from Jun 26 is the resistance level to watch. A close above this level is needed to see focus shift to a potential bounce to the 0.9670-75 region. While 0.9344 caps a continuation lower that targets the 0.8770-00 region remains the overall target.

It is worth noting that the pair is again stumbling at the 21-DMA with a close above not seen since back in April.

audusddaily11july

Author: Kyle Shortland

Kyle Shortland has nearly 20 years of investment management and financial markets experience and currently produces Asian FX technical analysis for MNI. Before joining MNI Kyle spent 3 years as a Foreign Exchange Analyst for Thomson-Reuters IFR Markets product. Kyle’s previous roles included tactical asset allocation and the development and management of model equity, commodities and foreign exchange portfolios for various Australian banks and funds. Kyle originally gained his experience in the FX markets as a spot trader with Colonial State Bank in Sydney Australia. Kyle holds a Masters of Applied Finance degree from Macquarie University, and a Bachelor of Commerce degree from Newcastle University.

2013-07-11T16:00:14+0000

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AUD/USD|Technical Analysis

Kyle Shortland

13 Comments

  1. I have seen jeeps lower to the ground than that excuse for a car. Ugly inside and out.

  2. Hey Kyle I’ve really tried to give this currency the benefit of the doubt recently but damn does this thing love to get stomped on.

    Here’s a daily pic of what’s been happening every time the pair gets close to the 21 EMA

    https://www.tradingview.com/x/wKO9MHPa/

  3. Strangely enough i think i see a pattern developing there Ryan…LOL

  4. Haha indeed. Been saying if we can’t stay above 0.9200 then 0.88 is right around the block.

    We might as well consider this the AUD :)

    http://blogs.jwatch.org/hiv-id-observations/wp-content/uploads/2013/01/WHACK-A-MOLE.jpg

  5. Hahaha very good Ryan, i love it!! :)

  6. The AUDCAD and AUDSGD look like the best of the bunch as they push through making fresh new lows

  7. AUD/JPY is looking pretty heavy too

  8. So I’m a buyer stop at 0.9090 just below yesterday’s low and looking your .9344 area.

  9. aussies shorts aplenty.
    who will take profit first?

    90.90 -90.80 STRONG SUPPORT.

    maybe should cover and wait for better levels.

  10. I like aud/cad long. For a target of parity. I m just not sure where to put the stop with all this volatility. Any thoughts kyle and blog dogs ?!?!

  11. Sorry Martin but AUD/CAD looks bearish to me until it can manage a close back above the 0.9700 level.

  12. I’m out of most of my long AUD/USD. Since yesterday, its hard to stick to the plan. I’ll load up on more below 0.9160.

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