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The AUDUSD closed at .7269 (-0.32%), although well off its intraday low at .7226. The market remains heavily short the AUDUSD, and should it break above the .7320/40 resistance area, I expect to see a short-covering rally commence towards .7500c. Until then, a retest of the August .7106 low cannot be ruled out.
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The AUDUSD closed at .7314 (+0.55%) and appears to have traced out a potential inverted head and shoulders bottom on the intraday charts. The market remains heavily short the AUDUSD, and should the AUDUSD break/close above the top of the .7320/40 resistance area, I would expect to see a short-covering rally commence towards .7500c

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the chart paten looks it gonna rally higher----imho though.

 

 

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The AUDUSD closed unchanged at .7309 (-0.05%) after running into sellers .7320/40 area. The market remains heavily short the AUDUSD, and should the AUDUSD break/close above the top of the .7320/40 resistance area, I would expect to see a short-covering rally commence towards .7500c the projection of the inverted head and shoulders bottom.
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The AUDUSD closed higher at .7350 (+0.56%) above the band of resistance .7320/40 area. This development suggests that a short-covering rally towards .7500c (the projection of the inverted head and shoulders bottom) has commenced. To remain with the positive view, the AUDUSD needs to hold above support at .7280/75
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with inflation jumped up big time as energy price rocked high, will RBA make a drastic move earlier ??? :unsure:

 

 

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The AUDUSD closed higher at .7358 (+0.08%), consolidating its break above the band of resistance .7320/40 area. Providing the AUDUSD continues to hold above support at .7280/75, the view remains that a short-covering rally towards .7500c (the projection of the inverted head and shoulders bottom) has commenced

 

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The AUDUSD closed higher overnight at .7373 (+0.31%). This morning at 11.30 am Sydney time, Australian jobs data for September is due to be released. The forecast is for another significant fall in employment of around -120k driven by lockdowns and mobility restrictions. The participation rate is expected to drop from 65.2% to 64.8% and moderate the rise in the unemployment rate from 4.5% to 4.8%. Providing the AUDUSD continues to hold above support .7320/00, the view remains that a short-covering rally towards .7500c has commenced.
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The AUDUSD has extended gains to be trading at .7418 (+0.53%), enjoying the backdrop of stronger commodities, lower U.S yields, and an improved risk-seeking environment. The short-covering rally we have been expecting is well and truly underway. A break of near-term resistance at .7420/30 should then see a test of our upside target at .7480/.7500c. Beyond here, watch for a test of the 200-day moving average at .7600c. Stops on longs can be trailed higher to .7365.

 

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as AAA confirmed would see AUD pop up little faster ...

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