Australian Dollar Continues to Plummet: Nears Former Low at 10524
Prepared by Jamie Saettele, CMT
The AUDUSD continued to plummet and is now over 500 pips from its record high last week! Already dropping below a short term trendline and 50 day average, price is now at its 100 day average. The next level of interest is the early July pivot low at 10524. 10630 and 10675 are short term resistance.
Trend Strength (M,W,D) – 2, 2, 0
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 email@example.com.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.