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Australian Dollar Resistance 10875-10930

Australian Dollar Resistance 10875-10930

2011-05-10 15:06:00
Jamie Saettele, CMT, Sr. Technical Strategist
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240 Minute Bars

eliottWaves_aud-usd_body_audusd.png, Australian Dollar Resistance 10875-10930

Prepared by Jamie Saettele, CMT

The rally from 10536 is viewed as a b wave within a larger correction. As such, expectations are for price to roll over in wave c this week. Former resistance levels at 10417 and 10200/55 now serve as supports. Near term resistance extends from 10830 to 10930.

Support/Resistance Index (M,W,D) – 0, (1) ,2

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Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market.  Send requests to receive his reports via email to jsaettele@dailyfx.com.

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