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Australian Dollar at Multi Decade High

Australian Dollar at Multi Decade High

2011-03-25 15:40:00
Jamie Saettele, CMT, Sr. Technical Strategist
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60 Minute Bars

TopHeadline_1_body_audusd.png, Australian Dollar at Multi Decade High

Prepared by Jamie Saettele

The AUDUSD has rallied nearly 600 pips since last Wednesday’s low without as much as a 100 pip correction. Trading at multi decade highs, focus is now on figures such as 10500 and 11000. Near term however, there is little doubting that the risk of a pullback is high, especially given the 5 wave structure from 9700. 10127 and 10064 are supports.

Click here to see outlooks for the rest of the USD majors.

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