Inside the Currency Market: AUD/USD, AUD/JPY

AUD/USD, AUD/JPY

AUD curve is downsloping but its tight as well. Points above begin at 0.7404, 0.7405, 0.7406, 0.7407 Then 0.7409, 0.7412, 0.7419, 0.7427. So Points 0.7404 – 0.7427. Range above 0.7449, 0.7454, A break of 0.7454 targets next range at 0.7527 and and 0.7556.

Below ranges: 0.7360 and 0.7355. Then comes 0.7283 and 0.7256. Bigger picture 0.7641 and 0.7729 are overarching lines dropping on AUD prices. Any rises today should dead stop right at 0.7427. What’s different is AUD 1 year yield plays an impportant role in AUD prices. Its pretty much dead sitting at 1.982.

AUD/JPY. Points today. 91.83, 91.84, 91.85, 91.87 91.92, 92.12. Again AUD is tight today. Points 0.91.83 – 92.12. Range breaks above 92.39 and 92.45. Then 93.36 and 93.71. Below ranges: 91.28, 91.22, 90.33. So 92.39 – 91.28. Shorts need break 91.83, longs above 92.12. Overall, watch most important lin 83.61. That point will drive prices today. A break will see AUD/JPY much lower. No volatility today is fault of your central bankers.

Brian Twomey Inside the Currency Market, btwomey.com

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