AUDUSD Bearish Resolution to Range Favored
“From a risk standpoint, 10464 is
the bearish line in the sand for me. Exceeding that level would shift
focus to former supports at 10509 and 10597.” Last week’s advance failed
just before 10464 and at the underside of former trendline support and
channel resistance. 10145-10386 is the opening range for the year (first
2 weeks) and a break of the early year range would open up the
floodgates towards 9860 and 9660.
Bottom Line (next 5 days) – lower
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