Australian Dollar at Channel Resistance-Probes October High
Prepared by Jamie Saettele, CMT
“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).” The AUDUSD reached 10740 today and focus remains higher as long as price is above 10569. A drop under there triggers a reversal towards 10425/50.
Bottom Line – flat
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.