Australian Dollar 9775 Still a Level of Interest
300 Minute Bars
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). Near term, a test of the gap from the 11/28 open (and trendline) is still favored in the 9775-9800 area as long as price is below 10030. A larger rally is then expected to commence and eventually exceed 10377. Watch the NZDUSD with the AUDUSD this week. A new low in AUDUSD (below 9861) without a new low in NZDUSD would indicate a divergence typically seen at turns.
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