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FOREX Trading: Looking to Short AUDUSD Near 10550

FOREX Trading: Looking to Short AUDUSD Near 10550

Jamie Saettele, CMT, Sr. Technical Strategist

The AUDUSD is little changed to begin the week. Expect the current move to extend slightly higher. 10550, the 9/14 reversal day close and 161.8% extension of 10287-10424, is a level that may produce the next top. I remain long from last week (10340 entry) but am looking to reverse the position near 10550.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.