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Australian Dollar Support Begins at 9000

By Jamie Saettele, CMT, Sr. Technical Strategist
01 September 2010 14:26 GMT

Daily Bars

eliottWaves_gbp-usd_body_100902_085725_CQG_IC_Screen.png, Australian Dollar Support Begins at 9000

Prepared by Jamie Saettele

“The AUDUSD has also failed to accelerate lower as expected so one must consider the potential for a bottom and reversal.” Yesterday’s rally suggests that a low is in place. I’ll look to buy weakness. Support should be strong in the 8955-9000 area. The longer term structure presented above favors a move above 9410 this month.

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01 September 2010 14:26 GMT