aud-usd

I wrote yesterday that “working with the assumption that an important top is in place, the AUDUSD is working towards resistance levels at .9120 and .9180.  Let’s see how sellers react in this zone, which should hold if the larger trend has turned down.” .9180 did hold but the rally is sharp.  Additional strength would shift focus to .9220 and .9275.

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.  Send requests to receive his reports via email to jsaettele@dailyfx.com.

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