Australian Dollar / U.S. Dollar

AUDUSD Update April 2017

Updated

Has been taking some time this congestion

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I have a sense that next week is critical for AUDUSD, oil, rates, and reflation overall.

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Today AUD survived

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Starting the week with some move

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FED meeting today/tomorrow

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Holding 0.74 so far with 2 consecutive hammer candles.

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Bounces off what looks like a critical level and lets see whether can overcome 0.74

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Movement here overnight

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So just like oil breakdown was overextended, so recovering. No surprise given same underlying factor exposure

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Closed just below the downtrend line. Critical time coming for the bullish case. Make or break

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Net spec positioning barely long from massively long. Bullish

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Good action today

Related publications

AUDUSD Roadmap April 2017

AUDUSD Update April 2017

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