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AUD/USD .9000 Still Interesting as Resistance Level

By , Sr. Technical Strategist
05 February 2014 00:30 GMT


eliottWaves_aud-usd_body_Picture_8.png, AUD/USD .9000 Still Interesting as Resistance Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-On Tuesday, AUDUSD saw the largest one day rally since 6/3/13. The market never traded higher. It’s not impossible that the same thing happens here although it’s worth noting that stronger resistance probably rests closer to .90. The 12/6 low is at .8989 and the 1/3 high is at .9004.

-Former range highs from .8825 to .8833 are now possible supports.

LEVELS: .8758 .8833 .8893 | .8968 .8989 .9045

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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05 February 2014 00:30 GMT