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Australian Dollar Trendline Confluence at 10350

Australian Dollar Trendline Confluence at 10350

2011-10-14 16:07:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_aud-usd_body_audusd.png, Australian Dollar Trendline Confluence at 10350

Prepared by Jamie Saettele, CMT

The AUDUSD is up nearly 1000 pips from the low (made last week!). Price is closing in on the trendline that extends off of the August and September highs (10350) and 200 day average (10375). The mid September pivot is also at 10400. One would expect strong resistance at 10350/10400.

Trend Strength (M,W,D) – (1), (1), 1

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