Australian Dollar / US Dollar
240 Minute Bars
Prepared by Jamie Saettele
I expect a top to form if one is not already in place. Additional strength could test 9140, which is the 100% extension of the 8062-8864 rally…but respect the possibility that a top is in place at 9075 for the AUDUSD. A short term support line is being put to the test now and a break below would be bearish.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosseson 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 email@example.com.
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