Australian Dollar May Still Test October High-10525 is Key

Daily Bars

Prepared by Jamie Saettele, CMT

The AUDUSD advanced 4% in January. It is too early to say with confidence that a larger correction of the bull move from the December low. Price pattern is constructive above Monday’s low (10525). A drop under there would shift focus to channel support and the 20 day average near 10440. Until then, respect the potential for a run at the October high (10752).

Bottom Line – flat