Minor Top Formed on AUD USD Weekly

Weakness in the equity markets and a general distaste for higher yielding assets is helping to put pressure on the AUD USD.

Intraday Analysis

AUD USD

Weakness in the equity markets and a general distaste for higher yielding assets is helping to put pressure on the AUD USD.

Today’s weakness has formed a new minor top on the weekly chart at .8470.  Another week of lower-lows will form a main top.  Based on the current weekly range of .7702 to .8470, look for the weakness to continue as long as equity markets remain under pressure.  The first downside target is a retracement zone at .8086 to .7995.

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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