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Australian Dollar 8680 is Potential Support

By Jamie Saettele, CMT, Sr. Technical Strategist
31 August 2010 17:25 GMT

Australian_Dollar_8680_is_Potential_Support_body_DT831audusd.gif, Australian Dollar 8680 is Potential Support

The AUDUSD has also failed to accelerate lower as expected so one must consider the potential for a bottom and reversal. The rally from 8770 is corrective so a new low is expected although perhaps not until additional consolidation in what may be a triangle from the 8/16 low. There is potential support from a confluence of trendlines on 9/3 at 8680.

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31 August 2010 17:25 GMT