AUD: NON-STICK TEFLON NO MORE http://marketscuttlebutt.com/2014/09/10/aud-non-stick-teflon-no-more/ The AUDUSD has broken down spectacularly today, falling...

David Scutt

Scutt Partners

AUD: NON-STICK TEFLON NO MORE (VIEW LINK) The AUDUSD has broken down spectacularly today, falling below its 200-day MA for the first time since March 25 this year. While there is a chance of a reversal, the pair has already fallen 2.61% in the space of 4 days, with the USD index looking increasingly bullish and net speculative positioning very long, it's likely that the pair will fall further from here should: a) tomorrow's labour force data come in at-or-below market expectations and; b) it close below its 200-day MA tomorrow morning On the downside I'm watching .9133-43 and .9079 while a reversal above the 200-day MA will see short covering ensue on what will be deemed a false break by the markets.


David Scutt
David Scutt
Independent Market Strategist
Scutt Partners

David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...

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