Prepared by Jamie Saettele, CMT
The AUDUSD blew through 9805 and continued all the way to 9930 today. This is why one uses stops. There is nothing wrong with a 30 pip loss. The more or less insane rally has brought price right back to where it was in mid-May. More importantly, price is at a level that we’ve cited as important resistance for some time – 9930 (5/22 high). Resistance extends slightly higher into channel resistance and the 5/16-5/17 highs at 9965. Support is now 9825/40.
LEVELS: 9755 9800 9840 9930 9965 10020
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