AUDUSD Technicals for July 15th
Trading above 8865 shifts focus to 9130/50 (former support and a 100% extension). Since the AUDUSD advance from 8312 is impulsive, I expect weakness over the next several days down to at least 8680. 8570 is also potential support. It is worth noting that the 2 legs higher from 8062 would consume the same amount of time at the end of July.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market. Follow his intraday market commentary and trades at DailyFX Forex Stream. Send requests to receive his reports via email to firstname.lastname@example.org.
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