Latest AUD USD Analysis and ForecastUpdated January 27th, 2022
Plunge, intermediate-term shift to a bear trend
Day trade update and view
A Thursday plunge through key .7079 and .7036 signalling an intermediate-term bear trend shift through the higher level, to reinforce negative pressures from Wednesday's failure and sell off and the latter January plunge through multiple supports including the December-January up trend line, keeping risks lower for Friday.
Day trade setup
- We see a downside bias through .7020 for the cycle low at .6989 and a key support at .6987 a break here aims for .6963 and maybe towards .6921.
- But above .7100 opens risk up to .7181 and possibly .7215.
The latter January push below .7079 signalled an intermediate-term shift to a bear trend.
Downside risks: We see an intermediate-term bear trend to aim for .6989/87, .6776 and .6506/00.
What changes this? Above .7181 shifts the intermediate-term bear trend straight to an intermediate-term bull trend.
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