aud-usd

The AUDUSD has held (on a daily closing basis) a support line (red line) drawn off of lows in March, July, September and October along with 5th wave channel support. The EURUSD has also held up but there is a clear intraday EURUSD bearish pattern. I do not see a clear AUDUSD bearish pattern. Until a break of channel support, there is the possibility (although I do not see it as probable) of a new high.” There is potential resistance at .9225.

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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