AUDUSD at risk of correction to .9150/40 before push higher for .9345 and above Having hit an interim target at .9265 late last week after the
AUDUSD at risk of correction to .9150/40 before push higher for .9345 and above
Having hit an interim target at .9265 late last week after the acceleration higher from midweek on the break of the 200-day MA, which signalled a bullish shift and leaves risk higher into early April.
However, the intraday Friday dip from ahead of our next target at the 61.8% retrace level at .9345 likely favours a fatigued pause and further dip.
We look for modest support at .9205 and certainly .9150/40 to hold to keep upside pressures to .9345 this week.
We see overshoot threat to a chart level at .9445 and maybe even up to .9535/40 retrace/ chart targets in April.
WHAT CHANGES THIS?
Below .9140 eases bull risks; through .9070 signals a neutral tone, only shifting negative below .8995.
