05 Nov

The AUDUSD drifted in a narrow range during New York trading.  This will most likely remain the case ahead of the Reserve Bank of Australia Rate Decision at 3:30 GMT or 10:30 ET.  After the data release the levels to watch are clear.  Resistance is stacked between the 50 Fib at 1.0386 and daily price resistance at 1.0410.  Support begins at the ascending Trend line at 1.0325.  It will take a break of this wedge to set the pair in motion.  A break above the resistance zone could opens up the 1.0520 level.  A push below exposes 1.0250.

Sup             1.0325              1.0250

Res              1.0386/1.0410                1.0520

Keane Plan...Waiting for the RBA for clearer picture of sentiment.

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