Australian Dollar Resistance at 10100
240 Minute Bars
Prepared by Jamie Saettele
I was looking for one more low in the AUDUSD yesterday before this rally but wrote that a “recovery back toward 10075 is expected.” The AUDUSD has exceeded 10075 and resistance should be strong at 10100, which is the 61.8% retracement and former support. Bigger picture, a drop below 9803 is needed in order to confirm a more important top. Keep in mind that the year to date high remains the January 3rd high (first trading day of the year). This is the most likely date of the year to produce a high or low for the entire year.
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