Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

AUD/USD Top Side of Broken Channel is Now Estimated Support

By , Sr. Technical Strategist
16 July 2013 19:28 GMT

4Hour

eliottWaves_aud-usd_body_audusd.png, AUD/USD Top Side of Broken Channel is Now Estimated Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: The AUDUSD has almost retraced the entire decline from 7/11. Previous comments remain valid – “Momentum has waned significantly with the last several closing lows generating RSIs above 30. The NZDUSD has failed to confirm the AUDUSD low as well (although that could change).” .9146/70 is now estimated support (watch the top side of former channel resistance).

FOREXTrading Strategy: Flat but looking for a higher low (above .8997).

LEVELS: .9048 .9146 .9171 .9304 .9433 .9600

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

16 July 2013 19:28 GMT