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AUD/USD Sits at Short Term Channel Support before RBA

By , Sr. Technical Strategist
03 March 2014 21:48 GMT

Daily

eliottWaves_aud-usd_body_Picture_8.png, AUD/USD Sits at Short Term Channel Support before RBA

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-AUDUSD spiked below the recent range on Monday, thus negating the triangle that I thought had been forming early last week. Now the rate has rebounded from channel support ahead of RBA.

-Monday’s low is a few ticks above the 1/22 high (.8887). .8820 and .9025 are probably important levels for the rest of the week.

LEVELS: .8730 .8820 .8887 | .8964 .9027 .9066

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

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03 March 2014 21:48 GMT