AUD/USD intraday outlook, Sept 10th
The breaks below .9230 and .9200 in the same session show just how powerful the bear move has been. We’ve seen a swift 200 pip fall as the AUD has re-aligned on the crosses. Intraday resistance will start at .9230 and there will be lots of willing sellers there (according to pro-market chatter). On the downside, there is very strong technical resistance between .9150/80 and this will attract buyers.
AUD/NZD has had a strong bullish break and any pull-backs towards 1.1100 should attract buying interest.
Overall, short-term bearish bias in place for AUD/USD but the medium-term structure remains bullish in my view. I’d suggest .9150/.9230 for the Asian session (and I’m looking to start re-building medium-term longs on any dips).