AUD/USD In Oversold Territory, Could Head To $91.16

Published 11/25/2013, 05:14 AM
Updated 05/14/2017, 06:45 AM

AUDUSD broke the 3 month bull trend & the 100 day moving average at 9276/70 last week to keep the market under pressure. We are oversold short term but should ignore this & stay with the bear trend as we look for 9116. A break lower cannot be ruled out & could target 9072, possibly as far as 9043 this week.
AUD/USD
Immediate resistance at 9144/48 could hold a move higher today but above here we could stretch to 9165/70. Unlikely, but if we continue higher look for a selling opportunity at 9195/99 today.

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