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AUD/USD .8925 or .9080 Break to Determine Next Move

By , Sr. Technical Strategist
25 February 2014 21:59 GMT


eliottWaves_aud-usd_body_Picture_8.png, AUD/USD .8925 or .9080 Break to Determine Next Move

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-In AUDUSD, “recent action raises the possibility of a triangle unfolding from the 2/12 high. In other words, the range may tighten for a few days before a breakout attempt.”

-Monday’s bullish outside day may portend a break higher. There are a lot of bears out there that would certainly be caught off guard by a break higher. Monday’s low is key to any upside resolution.

LEVELS: .8951 .8987 .9003 | .9065 .9085 .9167

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

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25 February 2014 21:59 GMT