AUD USD Weakens Under .7983

Bearish news is triggering weakness in global equity markets overnightwhile encouraging flight-to-safety buying in the U.S. Dollar andJapanese Yen. The AUD USD is under pressure as demand is diminishingfor higher yielding assets.

Daily Analysis

Bearish news is triggering weakness in global equity markets overnight while encouraging flight-to-safety buying in the U.S. Dollar and Japanese Yen. The AUD USD is under pressure as demand is diminishing for higher yielding assets.

Based on the main range of .8264 to .7702, the best resistance area is .7983 to .8049. Yesterday this currency pair stopped at the upper level of the resistance zone with the actual high coming in at .8072.

The short-term chart indicates weakness under the lower level of this retracement zone at .7983 with the first downside target at .7887.

Daily Chart

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James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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