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Australian Dollar Plunges-Nears January Low

Australian Dollar Plunges-Nears January Low

2011-03-15 14:36:00
Jsaettele,
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eliottWaves_aud-usd_body_audusd.png, Australian Dollar Plunges-Nears January Low

Prepared by Jamie Saettele

The long awaited break may be underway in the AUDUSD. A drop under 9803 would shift focus to the December 2010 low (9537) and 200 day average. Short term resistance comes in at 9925 and 9970. I continue to favor short positions, but risk can be moved to 10160.

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