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AUDUSD Technicals for July 16th

AUDUSD Technicals for July 16th

2010-07-16 15:31:00
Jamie Saettele, CMT, Sr. Technical Strategist
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 DT-10-07-16-AUD

Recent comments were “since the AUDUSD advance from 8312 is impulsive, I expect weakness over the next several days down to at least 8680. 8570 is also potential support.” The AUDUSD is nearing 8680, which could provide support for a 4th wave low. Dropping below would shift focus to 8570.

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.

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

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