Australian Dollar Daily Key Reversal
Prepared by Jamie Saettele, CMT
AUDUSD expectations over the next several days are for a correction of the decline from 10763 to unfold. Resistance is 10390 and 10450-10525 (50%-61.8% Fibonacci). However, the larger trend is down towards the August low at 9928. I prefer playing the downside for a bearish extension as long as price is below 10312.
Trend Strength (M,W,D) – 1, (1), (1)
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 firstname.lastname@example.org.
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