Australian Dollar Focus is on Triangle Support Line
Prepared by Jamie Saettele, CMT
The best bet for AUDUSD is a triangle or flat from the October low (with the current rally from the November low as wave C). Last week’s key reversal ahead of the 200 day average is enough evidence for me to be bearish on rallies, targeting the trendline that extends off of the October and November lows near 9800. Exceeding 10380 would shift focus to 10450 (early November pivots) and the trendline near the mid 10500s.
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