Australian Dollar Bull Leg Nearing Completion
Prepared by Jamie Saettele, CMT
An AUDUSD top in what I am treating as wave D of a triangle (for now) is either in place or will be with one more high. Shorting at monthly and weekly highs is not a high probability play and short term structure does favor one more high so watch for resistance from the trendline (at 10465 Wednesday), the psychological 10500 and the Fibo extension at 10577. A drop below 10253 would trigger the bearish bias towards 9860-10045.
Bottom Line – flat
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