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Scandex Market Update – April 16

Scandinavian Capital Markets

AUDUSD has rolled over from the center line of the channel from the 2011 high. It’s possible that the March low is significant (bottom of long term channel) but this is a great spot for at least a drop to .6214 (former resistance). If that breaks then focus would be on VWAP off the low (see futures chart below) near .6070, which is also the 3/25 high. Futures and spot currently trade even so the spot price is the same. Proposed resistance for short entry is Tuesday’s low at .6374.

Scandinavian Capital Markets Review

Source: https://scandinavianmarkets.com/trading-news/scandex-market-update-april-16/
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