Australian Dollar Rallies off of Trendline Support
Prepared by Jamie Saettele, CMT
The line in the sand for bears is the 1/3 high at 10385. Exceeding that level would shift focus higher towards 10446 (11/3 high) and 10579 (100% extension of 9663-10379 rally) in what may be wave D of a triangle from the 2011 high. Support is now 10245/80.
Bottom Line – short, stop and reverse at 10385
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