Australian Dollar Focus is on Channel Below 9500
Prepared by Jamie Saettele, CMT
The AUDUSD continues to slide and focus is on several big levels, including the November 2010 low at 9537 and the 2009-2010 double top at 9400. The channel that defines the trend since the July top is of particular interest and crosses 9455 today (decreases about 10 pips per day).
Trend Strength (M,W,D) – (1), (2), (2)
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 and follow hom on Twitter @JamieSaettele.
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