AUD USD - Short-term correction..but trend intact
- (06/12) Has completed a double top but has already met the .9325 target. Further good support is met at .9275 and a move below here could see extended losses towards the 200 day moving average at .9057.
- (06/05) Continues to hold up well and as per EURUSD and the USD-index we suspect the correction lower has run its course.
- Good resistance is met in the .9650-70 range.
- Above here and parity beckons.
- (05/22) While we remain long-term constructive for the AUD and believe that parity and even 1.10 are achievable there is some good resistance overhead that may now contain this move in the shorter term (.9650-.9670) and open up the way for a move back towards .9300 again.
- (05/08) While we are broadly bullish on the AUD there remains a short-term danger of lower levels in the coming weeks. Good support is met in the .9275-.9310 area. If we see a break below here further losses towards .8950 would suddenly look to be a danger.
- (05/01) Significant support is met in the .9260-.9310 area on AUDUSD. A break below here would suggest a danger of deeper losses to at least .9150 and possibly as far as .9000. We would still view this as a likely correction within the long term up trend.
- (04/24) While the overall picture looks constructive here it failed to hold the break of new highs and could be susceptible to a corrective move.
Tags: FOREX Technical Analysis
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