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Australian Dollar Reaches Measured Level

Australian Dollar Reaches Measured Level

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_aud-usd_body_audusd.png, Australian Dollar Reaches Measured Level

Prepared by Jamie Saettele, CMT

The AUDUSD has exceeded the trendline that extends off of the July and October highs and has reached the 100% extension of the rally from 9861 (2 equal legs). An extension of strength targets channel resistance at about 10650 on Tuesday. 10490 is short term support. While the rally looks tired at these levels (extremely low volatility for example), the upside demands respect above 10458.

Bottom Line – flat

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