DAILY ANALYSIS FOR AUDUSD
Bias: It looks like we'll reach 0.5959 but only breach extends to 0.5831-50
Losses were steady over yesterday although quite erratic and this cautions against an overly bearish stance although I still feel there is downside risk. While 0.6065-96 caps this can still progress below 0.6006 to reach the 0.5959 support. Take care as I feel this may well hold for a reversal higher. Thus only breach maintains the downward momentum for 0.5831-50 minimum and probably at most 0.5746-72. For full analysis please open today's full report in PDF format.
Bias: It looks like we'll reach 0.5959 but only breach extends to 0.5831-50
Losses were steady over yesterday although quite erratic and this cautions against an overly bearish stance although I still feel there is downside risk. While 0.6065-96 caps this can still progress below 0.6006 to reach the 0.5959 support. Take care as I feel this may well hold for a reversal higher. Thus only breach maintains the downward momentum for 0.5831-50 minimum and probably at most 0.5746-72. For full analysis please open today's full report in PDF format.