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Australian Dollar Short Term Focus on 10125

Australian Dollar Short Term Focus on 10125

2011-03-28 15:03:00
Jsaettele,
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60 Minute Bars

eliottWaves_aud-usd_body_audusd.png, Australian Dollar Short Term Focus on 10125

Prepared by Jamie Saettele

The decline from Monday’s high is the largest for the AUDUSD since the pair embarked on its relentless advance from 9703. Additional weakness would see support from 10182 (100% extension) 10125 (former resistance and 161.8% extension) and then 10040/65 (261.8% extension and former support). Until an impulsive decline is visible from the high, I am not comfortable with the short side. Upside objectives in the event of a new high are 10400 and 10500.

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