SPOT AUDUSD - technical analysis signals for Wednesday
Bearish signals for AUDUSD on the week and for Tuesday have been confirmed, investors selling the market yesterday to post a 3rd lower daily high & low in a row and a loss of almost ½ Big Fig on the day. Prices are trading below their 100 day average rate which is negative and further strong selling in Asia this morning has taken sentiment to 3 month lows and to test the 200 day line. With no sign that the deterioration is ending, but with intraday sentiment oversold, the outlook for Wednesday is to sell just modestly on the open and then at .7745 with a stop loss at .7791, yesterday’s Marabuzo line. Targets are to .7704, the 200 day average, .7650 and .7571, July’s base.
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