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14 Aug 2014
AUD/USD bearish extension bias - MarketChartist
FXStreet (Łódź) - Steve Miley, FX analyst at MarketChartist points out that AUD/USD stalled back from barriers in the .9322/30 area, leaving bear risks intact.
Key quotes
"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."
Key quotes
"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."