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Australian Dollar Channel Resistance Near 10700

Australian Dollar Channel Resistance Near 10700

2012-01-25 23:25:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_aud-usd_body_audusd.png, Australian Dollar Channel Resistance Near 10700

Prepared by Jamie Saettele, CMT

The AUDUSD (like all USD pairs) reversed course as per FOMC and slightly exceeded 10600. Price continues to ride its 2nd standard deviation band and the next upside levels of interest are a Fibonacci extension at 10670 (extension of rally from 9861-10386) and the October high at 10752. 10540/75 is the support zone.

Bottom Line – flat

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