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  • Gold prices have plunged more than 5.1% off the September highs with the sell-off taking XAU/USD back into key technical support. Get your $XAUUSUD market update from @MBForex here:https://t.co/XqIJ5OJ5Hv https://t.co/O3CSNNCCWo
  • WTI higher by almost 2% as global energy prices continue to rise $CL $CL_F #Oil https://t.co/6Zu2zR0ZDP
  • Higher global natural gas prices could hint to a near-term increase in US exports - Moody's via BBG $NG $NG_F
  • WTO crude is on pace to put in its highest session close in three years. If it clears 76, it will be a far bigger technical event. $CL_F weekly chart below https://t.co/UPviQVRL2F
  • Fed's Williams: - It is reasonable for the taper to be completed by mid-2022 - I recognize that inflation is currently elevated
  • Both USD/CHF and USD/SEK rates appear poised for most upside in the near-term, while surging energy prices may be offering a different route for USD/NOK. Get your market update from @CVecchioFX here:https://t.co/0HFq7L8RCm https://t.co/7wF7mk4ip4
  • Fed's Williams: - Optimistic that the economy will allow an "imminent" taper - Elevated levels of uncertainty make forecasting difficult
  • Gold Price Outlook: #Gold Drops into Pivotal Support- $XAUUSD Levels - https://t.co/Wkucy1F83L https://t.co/WNQyAVsaYD
  • Fitch Ratings: - We do not expect the advent of a new gov't in Germany to produce a significant change in near-term economic prospects - Expect sound fiscal policies following German elections, with a focus on sustainability of public debt
  • The USD is trading in an ascending triangle formation, marked by horizontal resistance around the 2021 highs to go along with bullish trendline support. Get your market update from @JStanleyFX here:https://t.co/3HFBpRwqB4 https://t.co/jAfBE5EfQI
AUD/USD In Precarious Position

AUD/USD In Precarious Position

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD In Precarious Position

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-The last updated noted that “AUD/USD is testing major resistance in the form of what we call ‘slope’. Parallels to the line that extend off of the October 2013 and July 2014 highs have been useful in identifying important support and resistance in recent years…The rejection is bearish…” The just broken trendline suggests that things could get a lot worse too.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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