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  • $EURUSD levels from this morning's webinar looking good. . Archive out shortly . .
  • Elsewhere, the popular $HYG 'junk bond' ETF has slipped below a long-term Fib and range floor at 84 - though it finds itself now at the 200 DMA
  • ...Australia's ASX 200 has its own breakdown but it isn't as dramatic a reversal after months of horizontal congestion
  • ...the Japanese Nikkei 225 ($NKY_F) has produced a very similar rising wedge bearish breakdown of its own:
  • The price of #gold appears to be stuck in a narrow range following the limited reaction to the Federal Reserve interest rate decision. Get your $XAUUSD market update from @DavidJSong here:
  • ...I would label this a pretty clean $DAX rising triangle breakdown through 13,000
  • Friday's $SPX head-and-shoulders break was up for serious debate. Today's aggressive extension is not so ambiguous, and it seems to be backed by other global indices and risk assets
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: -2.03% Oil - US Crude: -3.78% Silver: -4.94% View the performance of all markets via
  • $USD putting in some serious strength to start the week. Was set up to breakdown around #FOMC, and given how the meeting went, one might've expected that bearish theme to continue. but it didn't - support has held, brings to light potential for continuation of strength $DXY
  • After a supercharged rally drove US equities from late-March into the September open, a different backdrop has begun to appear.Get your #indices market update from @JStanleyFX here:
AUD/USD Continues Lower-Next Measurement is .8985

AUD/USD Continues Lower-Next Measurement is .8985

2013-07-03 17:19:00
Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_aud-usd_body_audusd.png, AUD/USD Continues Lower-Next Measurement is .8985

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: The AUDUSD failed to hold the Sunday night open/low. Focus is back on the next measured level (200% of the 6/11-6/14 range) at .8984. Also, keep an eye on the downward sloping line that extends off of the 6/11 and 6/20 lows. That line isn’t until .8905 on Friday (NFP day).

FOREXTrading Strategy: Flat

LEVELS: .8860 .8984 .9066 .9151 .9252 .9329

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.